Emotions come into it where some creditors are willing to forgo their portion of the sale proceeds for a particular outcome. That counts as the bid satisfying some portion of the debt and now other creditors potentially get more money from the bankruptcy. The law allows for this, banks do it all the time on foreclosure auctions splashing the bids with their outstanding loan amount making it unprofitable for others to bid and winning the house they can then sell in a regular manner.