Bankruptcy Law Blog

For those that aren't familiar with Jevic, the Supreme Court set forth the facts in a straight forward summary -- "In the case before us, a Bankruptcy Court dismissed a Chapter 11 bankruptcy. But the court did not simply restore the prepetition status quo .  Instead, the court ordered a distribution of estate assets that gave money to high-priority secured creditors and to low-priority general unsecured creditors but which skipped certain dissenting mid-priority creditors                                             *   *   * In our view, a bankruptcy court does not have such a power. A distribution scheme ordered in connection with the dismissal of a Chapter 11 case cannot, without the consent of the affected parties, deviate from the basic priority rules that apply under the primary mechanisms the Code establishes for final distributions of estate valu...

Since the Supreme Court decided Czyzewski v Jevic Holding Corp. , a number of articles and court decisions have come through.  In a series of posts over the next several weeks, we will identify several of these decisions and provide you with a list of articles on the subject. Posts in this blog contain discussions of general principles of law and cases. No post, comment or discussion constitutes or should be taken as legal advice. To obtain legal advice you should retain counsel. Legal advice requires a review of the specific facts and circumstances of your case.