Whether the lower courts erred in authorizing the sale of J. C. Penney's crown jewel assets pursuant to 11 U.S.C. § 363 under an impermissible sub rosa plan

QUESTIONS PRESENTED This case presents important questions of federal law and public concerns regarding approval of a sub rosa plan pursuant to Bankruptcy Code 11 U.S.C. § 363. Allowing the lower courts’ opinion to stand would permit this type of sub rosa plan hijacking Chapter 11 and patently transferring assets inequitably to continue. With growing numbers of bankruptcy cases nationwide, the opinion of this Court shall have profound implications on imposing the statutory scheme of the Bankruptcy Code on future bankruptcy cases. The questions presented are: (1) Whether the lower courts erred in authorizing the sale of J. C. Penney’s crown jewel assets pursuant to 11 U.S.C. § 363 under an impermissible sub rosa plan; (2) Whether the Transactions satisfied the good faith requirement of Section 363(m); (3) Should Li, a member of Ad Hoc Equity Committee (AHEC) be permitted to substitute the AHEC on motion and prosecute the appeal when the AHEC was unable to retain counsels to continue the appeal collectively due to professional fees. . ii