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Ferve Ozturk Authors Law360 Article on Supreme Court Decision Regarding Structured Dismissals in Bankruptcy Cases

Articles / March 28, 2017

In the Law360 article, “Hitting The Brakes On Structured Dismissals,” dated March 28, 2017, Associate Ferve Ozturk analyzes the U.S. Supreme Court’s recent high-profile decision in the bankruptcy case Czyzewski v. Jevic Holding Corp. The Court reviewed the Third Circuit's decision, which upheld the use of structured dismissals that were challenged as violating the priority scheme set out in the Bankruptcy Code. The Supreme Court held that a bankruptcy court lacks the power to approve a structured dismissal that violates the Bankruptcy Code’s priority rules. Ozturk wrote, “The Supreme Court’s ruling in Jevic could have implications for various groups of stakeholders dealing with a financially distressed entity, including judgment creditors and unsecured creditors” and that “any stakeholder dealing with a financially distressed company would do well to monitor Jevic’s impact as lower courts begin to apply this decision.”

Read the article (registration required).