Hurt

MEMORANDUM **

1. The first question presented is whether the bankruptcy court erred in allowing the sale of the Colorado property. Although the bankruptcy court allowed the sale under 11 U.S.C. § 363 (f)(4), which ITNX challenges, we find that the sale was proper under 11 U.S.C. § 363 (b) and affirm. 11 U.S.C. § 363 (b) allows the debtor in possession 1 to sell, other than in the ordinary course of business, “property of the estate.” “Property of the estate” is defined as, among other things, “all legal or equitable interests of the debtor in property as of the commencement of the case.” 11 U.S.C. § 541 (a)(1). Accordingly, if the Colorado property was property of the estate, it was within the bankruptcy court’s power to allow the sale.

The settlement agreement and subsequent judgment in adversary proceeding 87-199 establish that title in the Colorado property was quieted in favor of Hurt. The settlement agreement provided for the “[wjaiver and release of ... any claim by Andrew B. Spain or any of his entities in *782 and to the real property in Colorado.” As president of ITNX, Spain thus waived ITNX’s claim to the Colorado property. The judgment in adversary proceeding 87-199…