The United States Bankruptcy Code is a carefully constructed balance between the competing objectives of debtor flexibility and creditor protections.
One area where this tension has been apparent is in the interpretation of Bankruptcy Code §363(f)(5) which provides that a trustee or debtor-in-possession may sell estate property free and clear of any liens in favor of a secured party if “such entity could be compelled, in a legal or equitable proceeding, to accept a money satisfaction of such interest.”
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