Ball Metal Food Container Wins Affirmance in Adversary Proceeding

On March 26, the United States Bankruptcy Appellate Panel for the Eighth Circuit affirmed a bankruptcy court's decision dismissing an adversary proceeding brought against multiple parties involved in an asset sale under 11 U.S.C. Section 363, including client Ball Metal Food Container Corporation. The adversary proceeding was brought by a Chapter 7 trustee and alleged that the defendants engaged in an array of wrongdoing in an effort to rig the outcome of the Section 363 sale. Following oral argument in February, a three-judge panel sided with the bankruptcy court’s decision that the finality of the sale order, together with statutory provisions and procedural rules, defeated the trustee's claims.