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Is annulment of the stay to "validate" a post-petition sale suffice
I'm trying to avoid a post-petition sale for far less than fair market
value, but the court is inclined to annul the stay.
1. *Under Section 549 of the bankruptcy Code:*
*(a)* Except as provided in subsection (b) or (c) of this section, the
trustee may avoid a transfer of property of the estate
*(1)* that occurs after the commencement of the case; and
*(2)*
*(A)* that is authorized only under section 303(f)
or 542(c)
of this
title; or
*(B)* that is not authorized under this title or by the court.
*(b)* In an involuntary case, the trustee may not avoid under subsection
(a) of this section a transfer made after the commencement of such case but
before the order for relief to the extent any value, including services,
but not including satisfaction or securing of a debt that arose before the
commencement of the case, is given after the commencement of the case in
exchange for such transfer, notwithstanding any notice or knowledge of the
case that the transferee has.
*(c) *The trustee may not avoid under subsection (a) of this section a
transfer of an interest in real property to a good faith purchaser without
knowledge of the commencement of the case and for present fair equivalent
value unless a copy or notice of the petition was filed, where a transfer
of an interest in such real property may be recorded to perfect such
transfer, before such transfer is so perfected that a bona fide purchaser
of such real property, against whom applicable law permits such transfer to
be perfected, could not acquire an interest that is superior to such
interest of such good faith purchaser. A good faith purchaser without
knowledge of the commencement of the case and for less than present fair
equivalent value has a lien on the property transferred to the extent of
any present value given, unless a copy or notice of the petition was so
filed before such transfer was so perfected.
Giovanni Orantes, Esq.*
Orantes Law Firm, P.C.
3435 Wilshire Blvd. Suite 2920
Los Angeles, CA 90010
Tel: (213) 389-4362
Fax: (877) 789-5776
e-mail: go@gobklaw.com
website: www.gobklaw.com
**Certified Bankruptcy Specialist, State Bar of California, Board of Legal
Specialization*
*Board Certified - Business Bankruptcy Law - American Board of Certification
*Board Certified - Consumer Bankruptcy Law - American Board of Certification
Commercial Litigation
Estate Planning
Outside General Counsel
WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN BERNARDINO
AND SANTA BARBARA AND THE WORLD FOR CHAPTER 11 AND 15 CASES.
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