Bankr. No.:
25-40010
Chapter:
11
Date of Decision:
October 2, 2025
Issue:
Whether the proposed sale of the debtor’s corporate stock to his non-filing spouse through a stock purchase agreement, which was partially seller-financed, was in the best interest of the bankruptcy estate and should be approved pursuant to 11 U.S.C. §363(b)?
Ruling:
No, the Court denied the debtor’s motion to sell his corporate stock to his spouse. The debtor failed to prove the sale of the shares to an insider at the proposed price and under the proposed seller financing plan was in the best interest of the bankruptcy estate, was a fair and reasonable price, and was the result of vigorous, arms-length, good faith negotiations.
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