In hearing this case, the Supreme Court will be asked to decide the extent to which current US bankruptcy law limits the appeals of bankruptcy sales in Chapter 11 cases. The lease at issue in this case offered the debtor a price of merely $10/year for 100 years for a spot in the Mall of America which was transferred to a new company upon the debtor’s bankruptcy. The Supreme Court’s decision on this matter will touch upon what is considered “integral” to a court-approved bankruptcy sale and will affect future bankruptcy appeals related to asset sales and lease transfers.
The U.S. Supreme Court […] agreed to hear Mall of America’s challenge to a lower court ruling finding it had to honor an extremely tenant-friendly lease it had made with Sears Holdings Corp, which was sold to a new owner during the U.S. department store chain’s bankruptcy case.
Source: U.S. Supreme Court takes dispute over extremely cheap mall lease | Reuters