News 01 Jun. 2015

L.P. Harrison 3rd Comments on SCOTUS Bankruptcy Courts Ruling Published by Law360

L. P. Harrison 3rd, co-chair of Curtis' Restructuring and Insolvency practice group, was quoted by Law360 with his view of the significance of the Supreme Court's May 26 ruling in Wellness International Network Ltd. v. Sharif concerning the bankruptcy courts' authority to make final decisions on certain legal claims.

Mr. Harrison said that “this much-needed decision has cleared up some confusion in the bankruptcy practice stemming from the Court's 2011 Stern decision. The Supreme Court found that bankruptcy court adjudication of Stern claims with the parties' knowing and voluntary consent and not necessarily requiring express consent will allow the large number of bankruptcy proceedings to proceed more smoothly through to resolution. The court has embraced the long-standing notion that parties can consent to adjudication while simultaneously acknowledging the volume of cases that bankruptcy judges handle, which has been more than double the total number filed in district and circuit courts in recent years.”