id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
inlawrev-3147	Boshkoff, Douglass G.	Bankruptcy in the Seventh Circuit: 1994	1995	12	.pdf	application/pdf	5937	372	63	The Court of Appeals affirmed the dismissal.^^ Judge Posner's opinion rejects arguments that bankruptcy jurisdiction exists either because the equitable action is related to the bankruptcy proceeding or arises under the bankruptcy statute.^^ As for the argument that the existence of federal jurisdiction would encourage purchasers to participate at bankruptcy sales, Judge Posner was unimpressed: It implies, what no one believes, that by virtue of the arising-under jurisdiction a bankruptcy court enjoys a blanket power to enjoin all future lawsuits against a buyer at a bankruptcy sale in order to maximize the sale price: more, that the court could in effect immunize such buyers from all state and federal laws that might reduce the value of the assets bought fi^om the bankrupt; in effect, that it could discharge the debts of nondebtors (like Zerand) as well as of debtors even if the creditors did not consent; that it could allow the parties to bankruptcy sales to extinguish the rights of third parties, here fijture tort claimants, without notice to them or (as notice might well be infeasible) any consideration of their interests.	cache/inlawrev-3147.pdf	txt/inlawrev-3147.txt