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


By Jasmin Yang

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 that violated the absolute priority rule, over the objection of impaired creditors. 

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