Nextel Retail Stores Inc. v. LTCW Trust

OPINION OF THE COURT

RENDELL, Circuit Judge.

Appellant LTCW Trust (“Trust”), successor to the Debtors in the underlying bankruptcy proceeding, appeals the District Court’s reversal of the Bankruptcy Court’s grant of summary judgment to the Trust. The Trust’s principal argument is that the District Court erred in ruling that the Bankruptcy Court could use its equitable power to avoid a contractual deadline on Appellee Nextel’s right to exclude certain short-term leases from a sale of substantially all the Debtors’ assets and demand the release of escrow funds where Nextel was late in providing…