8th Circ. Tosses Appeal Of $87M Polaroid Asset Sale

Law360, New York (July 12, 2010, 3:19 PM EDT) -- A federal appeals court has tossed out a plea by Polaroid Corp.'s largest creditor to reconsider the bankrupt company's $87 million asset sale, which caused the creditor to lose some of the nearly $300 in liens it holds on the property.

The U.S. Court of Appeals for the Eighth Circuit on Friday dismissed the appeal filed by Asset Based Resource Group LLC, saying its challenge to the bankruptcy court's order approving the asset sale was moot under Chapter 11 of the Bankruptcy Code because nobody received...
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