Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Bankruptcy Jurisdiction: From <i>Stern</i> to <i>Executive Benefits,</i> <i>Wellness International</i> and Beyond

By Madlyn Gleich Primoff and Neal Hampton
August 02, 2014

After a reprieve of more than 20 years, the United States Supreme Court has in the past several years delved into the world of bankruptcy court jurisdiction in a big way. In 2011, the Court introduced new-found uncertainty into bankruptcy practice and procedure when it issued its landmark decision in Stern v. Marshall, which limited the constitutional authority of bankruptcy judges to issue final decisions with respect to state law counterclaims. At the time, many observers worried that the decision could lead to a dramatic overhaul of the bankruptcy court system.

With its June 9, 2014, decision in Executive Benefits Insurance Agency v. Arkison, the Court had its first opportunity to consider the implications of Stern. Ultimately, the Court's decision in Executive Benefits endorsed the new procedures that the bankruptcy courts have been following in the wake of Stern. Again, the Court left several questions open in Executive Benefits, and the decision's main lesson to bankruptcy practitioners seemed to be: “Stay tuned.” Now, with its decision of July 1, 2014, to grant certiorari in Wellness International Networks, Inc. v. Sharif, the Court has an opportunity to address questions expressly left open in Executive Benefits.

Stern v. Marshall

This premium content is locked for Entertainment Law & Finance subscribers only

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Read These Next
Major Differences In UK, U.S. Copyright Laws Image

This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.

The Article 8 Opt In Image

The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.

Strategy vs. Tactics: Two Sides of a Difficult Coin Image

With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.

Legal Possession: What Does It Mean? Image

Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.

The Anti-Assignment Override Provisions Image

UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?