Chapter II., D. Sales Free and Clear of Liens: Importance of Notice!
| Jurisdiction | United States |
D. Sales Free and Clear of Liens: Importance of Notice!
Finally, the primary reason buyers insist on sales being implemented through a proceeding is because the court has the ability, in certain circumstances, to authorize sales free of liens, adverse interests and encumbrances.32 This is usually used when the assets to be sold will not produce sufficient sales proceeds to pay, in full, all secured claims and/or unsecured claims. The court's sale order will act as a type of "insurance" that the buyer has good title to the assets purchased without concerns that creditors might subsequently assert claims against the buyer...
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