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In re Moore

Appellant appeals the district court's affirmance of the bankruptcy court's approval of a settlement of estate claims over its objection and despite its offer to purchase the claims for higher value. The claims at issue are assets of the estate that can be sold to appellant. The bankruptcy court's decision to the contrary was an error of law and therefore an abuse of discretion. The proposed settlement was a disposition of estate assets, and appellant?s overbid required the court to consider the appropriateness of an auction and Bankruptcy Code �363 sale procedures. Its failure to consider those alternatives was also an abuse of discretion. 5th U.S. Circuit Court of Appeals, No. 09-10604, 06-04-2010

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Published opinion

Before SMITH, CLEMENT, and OWEN, Circuit Judges.

Appellant The Cadle Company (“Cadle”), the major creditor of the bankruptcy estate of James H. Moore, III (“Moore”), appeals the district court’s affirmance of the bankruptcy court’s approval of a settlement of estate claims over its objection and despite its offer to purchase the claims for higher value. We reverse and remand, concluding that the claims at issue could be sold as well as compromised and that the bankruptcy court’s failure to consider the effect of such a sale was an abuse of discretion.

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