Rev Op Group v. ML Manager LLC (In Re Mortgages Ltd.)

MEMORANDUM

In two Opinions filed with this Memorandum, we address three of the six appeals filed by Rev Op Group, objecting investors to certain decisions made by ML Manager LLC (ML Manager), which manages and operates the loan portfolio of bankrupt debtor Mortgages Ltd. In this Memorandum, we address the other three appeals, which are from district court affir-mances of four orders by the bankruptcy court that involve different legal issues than those in the two Opinions. Pursuant to the Declaratory Judgment of the bankruptcy court, ML Manager sold four prop erties of the estate, over Rev Op Group’s objection, with the bankruptcy court’s approval. Rev Op Group appealed each approval to the district court, which affirmed. Rev Op Group filed timely notices of appeal. We have jurisdiction over these appeals under 28 U.S.C. § 158 (d)(1), and dismiss the appeals of these sales orders as equitably moot.

We treat sales orders differently than the orders subject to the other appeals for purposes of equitable mootness. Appeals from unstayed orders approving a sale to a good faith purchaser are moot except when the sale is subject to a state right of redemption, even if the appellant…