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MATTER OF SPANISH PEAKS HOLDINGS II, LLC

No. 15-35572.

872 F.3d 892 (2017)

In the MATTER OF SPANISH PEAKS HOLDINGS II, LLC, Debtor. Pinnacle Restaurant At Big Sky, LLC; Montana Opticom, LLC, Plaintiffs-Appellants, v. CH SP Acquisitions, LLC; Ross P. Richardson, Ch. 7 Trustee, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Filed July 13, 2017.

Amended September 12, 2017.

Attorney(s) appearing for the Case

Mark A. Lindsay (argued) and David W. Ross, Babst Calland Clements and Zomnir P.C., Pittsburgh, Pennsylvania, for Plaintiffs-Appellants.

James F. Wallack (argued) and Peter D. Bilowz, Goulston & Storrs PC, Boston, Massachusetts; Steven M. Johnson, Church Harris Johnson & Williams P.C., Great Falls, Montana; for Defendants-Appellees.

Before: Alex Kozinski and William A. Fletcher, Circuit Judges, and Frederic Block, District Judge.

OPINION

The primary function of the Bankruptcy Code is to set out the rules for dividing up assets that are insufficient to pay a debtor's creditors in full. One such rule, contained in 11 U.S.C. § 363(f), authorizes a trustee in bankruptcy to sell — with some exceptions and limitations —...

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