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BankruptcyFeaturesLJN NewslettersThe Bankruptcy Strategist

Would <b><i>Jevic</i></b> Have Come Out Differently with Gorsuch?

By Joanne Lee and Charles Tabb
May 01, 2017

Very few bankruptcy cases climb all the way up the judicial ladder to the United States Supreme Court. Sure, celebrity appeal might help; see, e.g., Stern v. Marshall, 564 U.S. 462 (2011) (the “Marshall” better known as “Anna Nicole Smith”), but barring that, SCOTUS has granted cert on just a handful of petitions originating from a bankruptcy court. Most often, the Court grants cert when there is a split in the courts of appeals.

That said, at the tail end of 2016, SCOTUS was treated to oral arguments in Czyzewski v. Jevic Holding Corporation, a case that, according to The New York Times, had the potential to “upend” the absolute priority scheme that serves as the backbone of the United States Bankruptcy Code. Jevic involved a dispute over the validity of a structured dismissal pursuant to a settlement agreement between the debtors and some — but not all — secured, priority, and general unsecured creditors.

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