Potpourri Of Issues In Foremost Building Bankruptcy Sale

Law360, New York (February 13, 2014, 4:09 PM EST) -- In In re Scimeca Foundation Inc., 497 B.R. 783 (Bankr. E.D. Pa. 2013), a Chapter 7 trustee sought court approval for a sale of the debtor’s property and resolution of related issues over the objections of the debtor. In granting the trustee’s request, the court reviewed various issues that commonly come up in connection with bankruptcy sales, including the standard for review of the trustee’s proposed sale, bases for selling property “free and clear,” and the effect of a sale on leases.

The debtor owned a...
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