An Inherent Claim Against The Estate?

Law360, New York (August 31, 2010, 5:25 PM EDT) -- Two decades ago, the U.S. Supreme Court tackled the issue of whether a third party had submitted itself to jurisdiction of the bankruptcy court. In Granfinanciera SA v. Nordberg,[1] the Supreme Court ruled that a party who has not filed a claim against a bankrupt’s estate is not subject to the jurisdiction of the bankruptcy courts.

A year later, in Langenkamp v. Culp,[2] the Supreme Court expanded upon Granfinanciera, holding that a third party waives its Seventh Amendment right to a jury trial by filing a...
To view the full article, register now.