SCOTUS, Czyzewski v Jevic Holding Corp

"Straight" Dismissal of Chapter 11 Case Did Not Violate Jevic's Prohibition of "Structured Dismissals" that Do Not Conform with...

Jones Day on 7/28/2023

In Czyzewski v. Jevic Holding Corp., 137 S. Ct. 973 (2017), the U.S. Supreme Court held that the Bankruptcy Code does not allow bankruptcy courts to approve distributions to creditors in a "structured dismissal" of a chapter...more

Structured Dismissal of Chapter 11 Cases Did Not Violate Jevic

Jones Day on 9/21/2021

In Czyzewski v. Jevic Holding Corp., 137 S. Ct. 973 (2017), the U.S. Supreme Court held that the Bankruptcy Code does not allow bankruptcy courts to approve distributions to creditors in a "structured dismissal" of a chapter...more

Is Jevic Hauling A Surprise For 363 Sales That Include Priority-Skipping Distributions?

Cole Schotz on 3/5/2018

Prior to the United States Supreme Court’s decision in Czyewski v. Jevic Holding Corp., 137 S.Ct. 973, 197 L.Ed.2d 398 (2017), one way to reshuffle the deck chairs on the titanic in a case with too little money, no more...more

The Jevic Files Continue: Pioneer-ing the Post-Jevic Era, and Wondering if Jevic Altered Critical Vendor Theory After All?

BCLP on 8/24/2017

The Supreme Court’s Jevic ruling last spring remains a treasure trove of bankruptcy theory, suitable for the novice bankruptcy student and highly instructional for those of us who have practiced in chapter 11 for years. We at...more

Web Exclusive: Supreme Court Review: Mixed Bag For Employers

Fisher Phillips on 8/14/2017

The 2016-17 Supreme Court term was truly a mixed bag for employers. The Court limited presidential power, reined in the appellate courts’ authority to review and overturn trial court decisions regarding EEOC subpoenas,...more

Jones Day’s Review of Business-Related Cases in the Supreme Court’s October Term 2016

Jones Day on 7/25/2017

During what many have labeled a “quiet Term,” the U.S. Supreme Court, working with only eight justices for most of the session, still delivered at least 30 rulings of particular interest to business and industry. These...more

Bankruptcy courts cannot approve structured dismissal of Chapter 11 case that violates absolute priority rule

Snell & Wilmer on 6/6/2017

In Czyzewski v. Jevic Holding Corp., 137 S. Ct. 973 (2017), the U.S. Supreme Court held that a bankruptcy court was not authorized to approve a structured dismissal of a Chapter 11 case that violated the absolute priority...more

U.S. Supreme Court Holds That Structured Dismissals Cannot Deviate From the Bankruptcy Code's Priority Scheme

Jones Day on 5/31/2017

In bankruptcy cases under chapter 11, debtors sometimes opt for a "structured dismissal" when a consensual plan of reorganization or liquidation cannot be reached or conversion to chapter 7 would be too costly. In Czyzewski...more

The Jevic Fallout: Settlement DENIED

Kramer Levin Naftalis & Frankel LLP on 5/3/2017

In one of the first of many cases to determine the scope of the Supreme Court’s recent decision in Jevic, the Bankruptcy Court for the Eastern District of Tennessee denied a proposed settlement by the Debtor that the court...more

High Court Rules Final, Nonconsensual Structured Dismissals Invalid

Bradley Arant Boult Cummings LLP on 4/20/2017

The Bankruptcy Code contemplates that a Chapter 11 bankruptcy case will be concluded in one of three ways: a confirmed Chapter 11 plan, a conversion to Chapter 7 for liquidation of remaining estate assets, or a dismissal of...more

Priority is Paramount: Supreme Court Holds Structured Dismissals Cannot Violate Bankruptcy Code’s Established Priorities

A&O Shearman on 4/17/2017

On March 22, 2017, the United States Supreme Court (the Supreme Court) in In re Jevic Holdings Corp. held that a final disposition of estate funds cannot violate the Bankruptcy Code’s priority system by distributing value to...more

Keep On Truckin’: Priority Rules Still Rule in Structured Dismissals

Mintz - Bankruptcy & Restructuring Viewpoints on 4/11/2017

In 2015, Distressing Matters reported on the Third Circuit’s decision in In re Jevic Holding Corp., wherein that panel ruled that, in rare circumstances, bankruptcy courts may approve the distribution of settlement proceeds...more

Legal Alert - U.S. Supreme Court - Bankruptcy Court Not Authorized to Approve Structured Dismissal of Chapter 11 Case Violating...

Snell & Wilmer on 4/11/2017

On March 22, 2017 in Czyzewski v. Jevic Holding Corp. (SCOTUS Case no. 15-649), the Supreme Court of the United States held that a bankruptcy court was not authorized to approve a structured dismissal of a Chapter 11 case...more

Supreme Court Absolutely Affirms the Absolute Priority Rule

Ward and Smith, P.A. on 4/10/2017

The United States Supreme Court recently decided a case that impacts lenders and other creditors in Chapter 11 bankruptcy proceedings. The Supreme Court held that a bankruptcy court may not approve a “structured dismissal” of...more

Supreme Court Limits Use of Structured Dismissals of Chapter 11 Cases

Holland & Knight LLP on 4/8/2017

In a 6-2 decision on March 22, 2017, the U.S. Supreme Court determined that bankruptcy courts may not approve a structured dismissal of a Chapter 11 case that provided for distributions of estate funds that do not follow...more

Supreme Court Bars Structured Dismissals of Bankruptcy Cases That Violate the Code’s Priority Distribution Scheme – Could it...

Foley & Lardner LLP on 4/7/2017

On March 22, 2017 the Supreme Court issued its long-awaited ruling regarding the legality of structured dismissals of Chapter 11 bankruptcy cases that would make final distributions of estate assets to creditors in a manner...more

New Supreme Court Decision Reminds Parties to Bankruptcies to Keep their Priorities Straight

Partridge Snow & Hahn LLP on 4/3/2017

In a recent decision, the U.S. Supreme Court turned aside the efforts of a debtor and a group of creditors to make an end-run around the Bankruptcy Code’s priority rules by distributing assets to junior creditors ahead of...more

Debt Dialogue: March 2017

Kramer Levin Naftalis & Frankel LLP on 3/31/2017

Kramer Levin’s Debt Dialogue addresses recent developments and recurring issues that debt-focused investors commonly encounter in connection with enforcement of rights, interpretation of documentation and other relevant...more

Yes, Virginia, there is a Code Priority Scheme: Supreme Court Strikes Down Structured Dismissals in Jevic

Foley & Lardner LLP on 3/30/2017

A potential threat to the Code’s priority scheme is the allowance of “structured dismissals,” which include a settlement as part of the dismissal of the chapter 11 case that would distribute estate assets in a manner that...more

The Structure of Dismissals – Supreme Court’s Jevic Decision Lays Out Ground Rules for Parties Seeking to Resolve Bankruptcies...

Sheppard Mullin Richter & Hampton LLP on 3/30/2017

On March 22, 2017, the Supreme Court in Czyzewski v. Jevic Holding Corp., 580 U.S. __ (2017) held that a bankruptcy court does not have the power to approve a structured dismissal of a bankruptcy case that violates the...more

Supreme Court of the United States › Czyzewski v Jevic Holding Corp