Bankruptcy,
9th U.S. Circuit Court of Appeals
Jul. 5, 2018
Critical vendors can be key to Chapter 11 reorganization
A recent ruling shows that “critical” vendors can be key to a Chapter 11 reorganization.
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.
The U.S. Supreme Court has emphasized that the Bankruptcy Code's priority system for payment of claims is "a basic underpinning of business bankruptcy law." Czyzewski v. Jevic Holding Corp., 137 S. Ct. 973, 983 (2017). Creditors holding claims of the same priority are generally to be treated equally. The filing of a Chapter 11 bankruptcy petition results in a cleavage date, with unsecured claims incurred prior to the date ordinarily not to ...
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