Stakes Are High In Supreme Court Review Of Jevic

Law360, New York (July 12, 2016, 3:45 PM EDT) -- The U.S. Supreme Court has granted the petition for a writ of certiorari in Czyzewski v. Jevic Holding Corp. to resolve a split between the United States Courts of Appeals for the Second and Third Circuits and the United States Court of Appeals for the Fifth Circuit over whether a Chapter 11 case may be resolved through a structured dismissal that deviates from the absolute priority rule. This is an important case that will determine the power of bankruptcy courts to order the distribution of assets in a manner contrary to the Bankruptcy Code's priority scheme.

A Chapter 11 case may...

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