Wal-Mart Suit Part Of Biscayne Asset Sale, 11th Circ. Says
By Linda Chiem
Law360, New York (October 28, 2013, 9:21 PM ET) -- The Eleventh Circuit ruled Monday that a suit the bankrupt Biscayne Park LLC had launched against Wal-Mart Inc. over access to a 16-acre tract of land had rightfully been included in the bankruptcy sale order when Madison Realty Capital LP bought Biscayne’s assets.
A three-judge panel of the Eleventh Circuit affirmed a Florida federal court’s decision backing the bankruptcy court’s finding that Madison had a lien on the Wal-Mart suit under both a cash collateral order and prepetition loan documents, and that it had purchased the...