Civil Litigation,
Bankruptcy
Mar. 31, 2017
When courts can approve structured dismissals
In bankruptcy courts as on the playground, everyone has to wait their turn, says the U.S. Supreme Court. No cutting allowed in the priority of asset distribution.
David S. Kupetz
Shareholder
SulmeyerKupetz PC
333 S Grand Avenue, Suite 3400
Los Angeles , CA 90071-1406
Fax: (213) 629-4520
Email: dkupetz@sulmeyerlaw.com
UC Hastings College of the Law
David is an expert in bankruptcy, business reorganization, restructuring, assignments for the benefit of creditors, and other insolvency solutions.
In Czyzewski v. Jevic Holding Corp., 2017 DJDAR 2805 (March 22, 2017), the U.S. Supreme Court considered whether bankruptcy courts have the legal power to approve the structured dismissal of a Chapter 11 bankruptcy case "that provides for distributions that do not follow ordinary priority rules without the affected creditors' consent?" The court held that "[o]ur simple answer to this complicated question is 'no'." The question involves the interplay between the priority rules of t...
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