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IN RE NASHVILLE SR. LIVING, LLC

No. 09-5817.

620 F.3d 584 (2010)

In re NASHVILLE SENIOR LIVING, LLC; Anderson Senior Living Property, LLC; Charlotte Oakdale Property, LLC; Greensboro Oakdale Property, LLC; Mt. Pleasant Oakdale I Property, LLC; Mt. Pleasant Oakdale II Property, LLC, et al., Debtors. The Official Committee of Unsecured Creditors, fka The Official Committees of Tenants in Common Investors, Appellant, v. Anderson Senior Living Property, LLC; Charlotte Oakdale Property, LLC; Greensboro Oakdale Property, LLC; Mt. Pleasant Oakdale I Property, LLC; Mt. Pleasant Oakdale II Property, LLC; Pinehurst Oakdale Property, LLC; Winston-Salem Oakdale Property, LLC, Appellees.

United States Court of Appeals, Sixth Circuit.

Decided and Filed: September 3, 2010.

Attorney(s) appearing for the Case

ARGUED: Lawrence R. Ahern, III , Burr & Forman LLP, Nashville, Tennessee, for Appellant. Andrew J. Sloniewsky , Steptoe & Johnson, LLP, Washington, D.C., for Appellees. ON BRIEF: Lawrence R. Ahern, III , David W. Houston, IV , Burr & Forman LLP, Nashville, Tennessee, for Appellant. Andrew J. Sloniewsky , Filiberto Agusti , Steptoe & Johnson, LLP, Washington, D.C., Robert A. Guy, Jr. , Waller Lansden Dortch & Davis, LLP, Nashville, Tennessee, for Appellees.

ROGERS, J., delivered the opinion of the court, in which COOK, J., joined. CLAY, J. (pp. 595-96), delivered a separate opinion concurring in the judgment.

OPINION

ROGERS, Circuit Judge.

Under 11 U.S.C. § 363(m), an approved sale of chapter 11 bankruptcy estate property generally cannot be challenged on appeal if the sale has already been consummated in good faith without an intervening stay. This "statutory mootness" provision not only protects the buyer, but also increases the ability of the bankruptcy estate to get a good price. The issue in this case is whether the same statutory provision extends...

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