Gotta stay to pay

Official Committee of Unsecured Creditors v. Walker County Hosp. Dist. presented a debtor’s challenge to the terms of a bankruptcy court’s sale order. The Fifth Circuit dismissed: “In this opinion, we have held that § 363(m) forecloses the creditor’s appeal because it failed to seek the required stay of the Sale Order. Established precedent leads us to this conclusion, and the Committee’s argument that it appealed an order not subject to § 363(m) is unpersuasive. In short: no stay, no pay.” No. 20-20572 (July 12, 2021) (emphasis added).