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ABI Journal

Asset Sales

Challenges to Finality of Sale Orders

Federal policy weighs heavily in favor of protecting the finality of sale orders in bankruptcy.[1] “It has been held that 11 U.S.C. § 363(m) ‘reflects the salutary policy of affording finality to judgments approving sales in bankruptcy by protecting good faith purchasers, the innocent third parties who rely on the finality of bankruptcy judgments….

In re Thane: If It Walks Like a Duck and Quacks Like Duck, It Still Might Not Be an Assumed Contract

On Feb. 21, 2018, the U.S. Bankruptcy Court for the District of Delaware issued its opinion in Stanley Jacobs Prod. Ltd. v. 9472541 Can. Inc. (In re Thane Int'l Inc.).[1] The issue was whether an executory contract that was neither affirmatively assumed nor rejected was assumed and assigned in a § 363 sale transaction.