In re: Pursuit Capital Mgmt. — bankruptcy — affirmance — Jordan

The Third Circuit affirmed the dismissal of a challenge to a bankruptcy trustee’s sales of assets, holding that the appeal was statutorily moot under 11 USC § 363(m) because the challengers failed to seek a stay of the assets’ sale.

Snoots will be aghast that the opinion contains, “we conclude that the sale was affected in good faith,” although Garner’s Modern American Usage concedes that misusing affect for effect “is an old error that looks as if it will be increasingly difficult to stamp out.”

UPDATE: Snoots will be delighted that Judge Jordan issued this order the next day:

IT IS NOW ORDERED that the above captioned opinion be amended as follows:
Page 29, Section C, the first line, “affected” shall be changed to “effected”.

Joining Jordan were Krause and Stearns D.Mass by designation. Arguing counsel were Craig Martin of DLA Piper for the appellants and Wendy Reilly of Debevoise & Plimpton for the appellee.