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IN RE POLAROID CORP.

No. 09-2860.

611 F.3d 438 (2010)

In re POLAROID CORPORATION, et al., Asset Based Resource Group, LLC, as successor servicer to Acorn Capital Group, LLC, Appellant, v. United States Trustee; Official Committee of Unsecured Creditors, Appellees, v. Polaroid Corporation; Polaroid Holding Company; Polaroid Consumer Electronics, LLC; Polaroid Capital, LLC; Polaroid Latin America I Corporation; Polaroid Asia Pacific LLC; Polaroid International Holding LLC; Polaroid New Bedford Real Estate, LLC; Polaroid Norwood Real Estate, LLC; Polaroid Waltham Real Estate, LLC, Appellees.

United States Court of Appeals, Eighth Circuit.

Filed: July 9, 2010.

Attorney(s) appearing for the Case

Daniel Beck, Thomas Henry Boyd, Michael Rosow, Winthrop & Weinstien, Minneapolis, MN, for Appellant.

Michael E. Ridgway, U.S. Trustee's Office, Minneapolis, MN, for Appellee, United States Trustee.

Theresa Helene Dykoschak, Dennis Michael Ryan, Faegre & Benson, Minneapolis, MN, for Appellee, Official Committee of Unsecured Creditors.

Terrence J. Fleming, Christopher Anton Grgurich, George H. Singer, Sandra S. Smalley, Lindquist & Vennum, Minneapolis, MN, for Appellees.

Before WOLLMAN, SMITH, and BENTON, Circuit Judges.

PER CURIAM.

After an auction, debtor Polaroid Corporation agreed to sell its assets to PLR Acquisition, LLC, for $87 million. The bankruptcy court approved the sale, free and clear of any liens—including Acorn Capital Group's liens of $300 million. See 11 U.S.C. § 363(f). The bankruptcy court did, however, recognize that Acorn's claims attached to the net proceeds of the sale.

Acorn moved to stay the sale pending appeal. The bankruptcy court...

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