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High Court: Debtor May Not Sell Property Free Of Lien; Must Allow Credit-Bidding

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on May 29 affirmed that a debtor company may not obtain confirmation of a nonconsensual Chapter 11 plan that permits the debtor to sell collateral free and clear of a creditor bank's lien without permitting the bank to credit-bid at the sale...