Supreme Court Issues Long Awaited Jevic Ruling, Ending Structured Dismissals in Bankruptcy
As a general proposition, Chapter 11 bankruptcy proceedings can conclude in one of three ways: (1) confirmation of a plan of reorganization (or liquidation); (2) conversion to Chapter 7; or (3) dismissal. Ideally, a plan is confirmed in which creditors receive payment as required under the distribution scheme embodied in the Bankruptcy Code. Plans can provide […]