April 01, 2018
Reprinted with permission from the ABI Journal, Vol. XXXVII, No. 4, April 2018.
The outcomes in Old Cold and Pursuit Capital reaffirm the federal policy of finality in sale orders, and parties that seek to challenge a bankruptcy court sale should seek to stay the sale order to preserve appellate rights. However, the issuance of two circuit-level opinions on the subject suggests that the policy will continue to be tested and buyers will never be fully insulated from extensive litigation until the appeal period expires.
The foregoing has been prepared for the general information of clients and friends of the firm. It is not meant to provide legal advice with respect to any specific matter and should not be acted upon without professional counsel. If you have any questions or require any further information regarding these or other related matters, please contact your regular Nixon Peabody LLP representative. This material may be considered advertising under certain rules of professional conduct.