On Tuesday, the Supreme Court overturned a Seventh Circuit decision and held that bankruptcy courts have the authority to make final decisions on certain legal claims that help liquidate a debtor or adjudicate a bankruptcy proceeding.
Dennis Nolan discusses why the decision in Wellness International Network Ltd. v. Sharif is significant.
“The decision is not ground-breaking, but it provides a little more clarity to bankruptcy judges in what has been a murky area over the past few years, and gives these judges back some autonomy. Allowing bankruptcy courts to confirm up front that a party voluntarily consents to the court’s jurisdiction to hear this type of claim can help avoid needless, protracted litigation, and pays heed to an over-arching bankruptcy principle – efficient administration of a debtor’s estate.”
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