Thomas Califano

June 05, 2023 | New York Law Journal

The Supreme Court's holding in MOAC Mall Holdings was that 11 U.S.C. Section 363(m), which limits the impact of appeals of unstayed bankruptcy court sale orders, is not jurisdictional because it does not satisfy the "clear-statement principle" and, thus, it does not preclude all appellate review.

By Thomas Califano and Nathan Elner

8 minute read

June 24, 2013 | New York Law Journal

Thomas Califano, a partner at DLA Piper, and Daniel Egan, an associate with the firm, write that in a typical bankruptcy sale, the debtor is seeking to obtain the highest and best offer for its assets, usually the offer that will provide the best recovery for the debtor's estate. Purchase price is not the sole factor, however, and a not-for-profit debtor is charged with the fiduciary duties to act in furtherance of the organization's charitable mission while also acting in the best interests of creditors.

By Thomas Califano and Daniel Egan

11 minute read