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2d Circuit Chysler Opinion

posted by Stephen Lubben

Released today (and posted below). The opinion contains a substantial discussion of §363(f), which should make the S.D.N.Y. the home for §363 sales for years to come. It will also reaffirm the belief that the GM appellants will need either an en banc review by the Circuit or Supreme Court intervention to prevail (at page 48).

The opinion (at page 29) agrees that the Indiana Funds were bound by their agent's release of liens, as I discussed in my post yesterday.  On page 31 the court discusses why the "amendment" clause of the loan agreement was inapplicable under the facts of the transaction -- in short, "[t]he §363(b) Sale did not entail amendment of any loan document."

Download 2d Cir Opinion


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