Law360, New York (August 29, 2014, 9:55 AM EDT) -- The Eleventh Circuit recently ordered the unwinding of a Section 363 sale after finding that the underlying involuntary bankruptcy petition had been filed in bad faith. The case is a grim warning to creditors and their counsel who might consider filing an involuntary bankruptcy petition against a debtor with the intent of pushing out other equity holders or taking control of the debtor's business or assets. The case also serves as a stark reminder that purchasers of assets (particularly insiders) from a bankruptcy estate cannot always rely on the provisions of 363(m), which generally provides that the validity of a sale under 363 to a good-faith purchaser is not affected by the eventual reversal or modification of the sale order on appeal....