Wood v. CLC Corp. (In Re CLC Corp.)

MEMORANDUM

KEITH M. LUNDIN, Bankruptcy Judge.

This is an adversary proceeding to quiet title to property sold pursuant to a confirmed Chapter 11 plan of liquidation. Carolyn and Dr. R. Gene Cravens, Sr. allege that the purchasers (Wood and Munro) have defective title because the Cravens did not receive a § 363 notice. Because Carolyn and Dr. Cravens failed or chose not to assert their interests before consummation of this sale notwithstanding actual knowledge of the sale, their rights have attached to the proceeds of the sale and not to the transferred property.

I

On May 15,1984, Cumberland…