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ABI Journal

Asset Sales

On April 29, 2022, the ABI Asset Sales Committee announced that the 2021 Asset Sale of the Year was awarded to In re Lighthouse Resources, Inc., et al. (Bankr. D. Del. Consol. Case No. 20-bk-13056- JTD), for the sale of its Wyoming real property assets. The Asset Sales Committee received many nominations and selected a winner based on the following criteria (dollar amount not being a factor):

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The Bankruptcy Code Doesn’t Invalidate Transfer Restrictions in an Operating Agreement

The transfer restrictions in an LLC’s operating agreement are enforceable in a bankruptcy sale, the Tenth Circuit BAP says.

Bankruptcy Code

Chapter 7 Estate Takes Post-Petition Appreciation on Conversion from Chapter 13

Joining the ‘slight minority,’ Judge Fenimore rules that post-petition appreciation in the value of a homestead goes to the chapter 7 estate when the chapter 13 case converts.