In a recent decision, the U.S. Supreme Court gave a narrow win to creditors in a dispute over the proper interpretation of the automatic stay provisions in the Bankruptcy Code, ruling that creditors may passively retain a...more
In a recent decision, the U.S. Supreme Court turned aside the efforts of a debtor and a group of creditors to make an end-run around the Bankruptcy Code’s priority rules by distributing assets to junior creditors ahead of...more
It is a fundamental rule of bankruptcy that the claims of junior creditors cannot be satisfied until the claims of more senior creditors are paid in full, absent the senior creditors’ consent. In a chapter 7 liquidation case,...more