In Czyzewski v. Jevic Holding, 580 U.S. __(2017), decided on March 22, the U.S. Supreme Court held that, without the consent of impaired creditors, a bankruptcy court cannot approve a "structured dismissal" that provides for distributions deviating from the ordinary priority scheme of the Bankruptcy Code. The ruling reverses the decisions of the U.S. Bankruptcy Court for the District of Delaware, the U.S. District Court for the District of Delaware, and the U.S.
USA, Insolvency & Restructuring, Litigation, Duane Morris LLP, Bankruptcy, Unsecured debt, Consent, Leveraged buyout, The Legal Intelligencer, Sun Capital Partners, Title 11 of the US Code, Supreme Court of the United States, United States bankruptcy court, Third Circuit, US District Court for District of Delaware
The Bankruptcy Deadline Checklist is a quick reference guide for those who handle bankruptcy cases including judges, lawyers, paralegals, credit managers, collection agents, professors, law students, and others.