Jevic Holding News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The In re Jevic Holding Corp. chapter 11 case continues to make news.  The case is likely best remembered for the 2017 Supreme Court decision holding that the distribution scheme in a structured dismissal of a Chapter 11 case cannot violate the absolute priority rule.  The case has since been converted to Chapter 7, and in its most recent development, the Bankruptcy Court in Delaware barred the Chapter 7 trustee from stepping into the shoes of either the former unsecured creditors’ committee or the debtor due to the language in the Final Debtor In Possession Order. Chapter 7 trustees hav...

ADVERTISEMENT ADVERTISEMENT Jevic Ch. 7 Trustee Can't Pursue Ex-Committee's Claims Law360 (May 6, 2021, 7:36 PM EDT) -- The Chapter 7 trustee overseeing the bankruptcy of trucking company Jevic Holding Corp. cannot step into the shoes of the plaintiff in a suit brought by the official committee of unsecured creditors, after a Delaware judge said Wednesday that a post-petition financing order limits adversary actions to those brought by the committee only. In a Wednesday opinion from U.S. Bankruptcy Judge Brendan L. Shannon, the court said that Chapter 7 trustee George Miller could not run wi...