Gluckstadt Holdings, LLC v. VCR I, LLC

The Fifth Circuit affirmed the district court's judgment affirming the bankruptcy court's decision to grant the Chapter 7 trustee's motion to approve auction and for authority to sell certain real property of the bankruptcy estate of VCR I. The court held that the trustee fully complied with the Agreed Order and Gluckstadt failed to address the court's precedent in In re Moore, the requirement under 11 U.S.C. 363(b) for the sale of a debtor's assets outside the ordinary course of business, or the trustee's fiduciary duty to maximize the assets of the bankruptcy estate. The court denied the trustee's motion to dismiss as moot. View "Gluckstadt Holdings, LLC v. VCR I, LLC" on Justia Law