Whether a bankruptcy court may authorize the distribution of settlement proceeds in a manner that violates the statutory priority scheme.
ABI Editor-at-Large Bill Rochelle's analysis of the Supreme Court granting certiorari for the case on June 28, 2016: http://www.abi.org/newsroom/daily-wire/supreme-court-will-review-jevic-…
Reversing the Third Circuit in Czyzewski v. Jevic Holding Corp., the Supreme Court ruled (6-2) on March 22 in an opinion by Justice Stephen G. Breyer that the bankruptcy court, without consent from affected parties, cannot approve so-called structured dismissals that “deviate from the basic priority rules,” not even in rare cases.
Click here for the full text of the opinion.
Click here for Bill Rochelle's analysis of the ruling.
December 7, 2016
Watch ABI Editor-at-Large Bill Rochelle provide a recap of the oral argument: