On a motion to quash an appeal from a sale approval order in a receivership, the court held that an unsuccessful prospective purchaser had no standing to appeal because the order did not finally dispose of any legal or proprietary right of that bidder.
The court emphasized that the purpose of a sale approval motion is to determine whether the proposed sale is in the best interests of parties directly interested in the proceeds, primarily creditors, not disappointed bidders.
The court rejected arguments that the bidder acquired appeal rights through the terms of a prior negotiation order or by being heard below.
The appeal was quashed with costs to the moving party.
