Mall of America entrance sign. AdobeStock image Will Mall of America Appeal Decision Create Uncertainty for Buyers of Assets From Chapter 11 Debtors?
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.
June 05, 2023 at 09:07 AM
8 minute read
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In some quarters there has been concern that the U.S. Supreme Court's unanimous opinion (authored by Justice Ketanji Brown Jackson), in MOAC Mall Holdings v. Transform Holdco, 598 U.S. __, 143 S. Ct. 927 (2023), creates uncertainty for purchasers of assets from bankruptcy estates. 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.
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