Section 363 Sales with Regard to Shopping Center Leases

Summary

This practice note covers a debtor tenant's assumption and assignment of leases in a shopping center in connection with a sale under Sections 363(b) and 365 of the Bankruptcy Code. Court approval must be obtained for sales outside the ordinary course of business under Section 363(b). Section 363(b) of the Bankruptcy Code authorizes the debtor to use, sell, or lease property outside the ordinary course of business after notice and a hearing before the bankruptcy court.