Issue link: https://mbozikis.ufcontent.com/i/1422521
92 the estate may be used, sold or leased other than in the ordinary course of business. 45 The Bankruptcy Code does provide three general limitations on the right to use, sell or lease property: (i) the trustee must comply with applicable nonbankruptcy law that governs the transfer of property by a corporation or trust that is not a moneyed business or commercial corporation or trust (11 U.S.C. § 363(d)(1)); (ii) regardless of the context of the action, the trustee may not take action inconsistent with court orders providing relief from the automatic stay (11 U.S.C. § 363(d)(2)); and (iii) when a party in interest so requests, the court may deny or condition a proposed or actual use, sale or lease as is necessary to ensure adequate protection of the party's interest in the property at issue (11 U.S.C. § 363(e)). Additionally, the Bankruptcy Code provides that a trustee's rights under Section 363 are not altered by nonbankruptcy laws or contract provisions that are conditioned on the insolvency of the debtor or the filing of a petition. 11 U.S.C. § 363(l). Moreover, a purchaser or lessee of property of the estate is protected from a reversal on appeal of the sale or lease as long as the purchaser or lessee acted in good faith and the appellant failed to obtain a stay of the sale or lease. 11 U.S.C. § 363(m). Finally, Section 363(n) allows the trustee to avoid a sale when the price was controlled by an agreement among collusive bidders. b. Cash Collateral One exception to the foregoing general rules regarding the use, sale and lease of estate property is when the use relates to the use by the trustee or debtor-in-possession of cash that is a creditor's collateral. This is because of the nature of cash as compared to other assets. The Bankruptcy Code provides that the trustee or debtor-in-possession may not use, sell or lease "cash collateral" without either (i) the consent of the creditor with an interest in the 45 See Chapter VI.C. for a discussion of the operation of a debtor's business in a bankruptcy proceeding.