UTSA Apartments, L.L.C. v. UTSA Apartments 8, (In Re UTSA Apartments 8, L.L.C.)

EDWARD C. PRADO, Circuit Judge:

This is a consolidated appeal stemming from the bankruptcy of nineteen companies that were tenants-in-common of a student housing development in San Antonio, Texas, called The Reserve. Appellants are Woodlark UTSA Apartments, LLC ("Woodlark"), who was The Reserve's asset and property manager, and a related entity, UTSA Apartments, LLC ("UTSA"), 1 which also owned an interest in The Reserve. This Court is asked to address the propriety of two rulings by the bankruptcy court concerning: (1) UTSA's share of net proceeds stemming from the sale of The Reserve to a…