112282P.pdf   10/23/2013  Robert A. Sears  v.  Joseph H. Badami
   U.S. Court of Appeals Case No:  11-2282
   U.S. District Court for the District of Nebraska - Omaha   
   [PUBLISHED] [Riley, Author, with Loken and Shepherd, Circuit Judges] 
   Civil case - Bankruptcy. The district court properly determined that the 
   provisions of 11 U.S.C. Sec 363(m)mooted the appeal from the bankruptcy 
   court's order permitting the trustee to assume the purchase agreement for 
   a tract of property; appellants failed to preserve their appeal of the 
   district court's holding that Sears Cattle did not object to the motion to 
   pay funds; because the Sears appellants cannot assert a direct interest in 
   the litigation, they lack appellate standing for bankruptcy purposes under 
   the shareholder standing rule; the trustee had standing to move to convert 
   the proceeding from a Chapter 11 to a Chapter 7 as debtor was not a 
   debtor-in-possession; the possible solvency of debtor's estate does not 
   give the Sears appellants standing to challenge the conversion order; all 
   of the Sears appellants' other standing arguments regarding the conversion 
   order are rejected, and the district court correctly determined they 
   lacked standing to appeal the conversion order.