Jevic's Promise: Procedural Justice in Chapter 11

93 Wash. L. Rev. Online 128 (2018)

15 Pages Posted: 27 Dec 2018

See all articles by Pamela Foohey

Pamela Foohey

Yeshiva University - Benjamin N. Cardozo School of Law

Date Written: December 10, 2018

Abstract

In this Response to Jonathan Lipson's article, The Secret Life of Priority: Corporate Reorganization After Jevic, 93 Wash. L. Rev. 631 (2018)), I focus on Czyzewski v. Jevic Holding Corp.'s implications for procedural justice and corporate reorganization. In his article, Lipson explicitly links the chapter 11 process with the Bankruptcy Code’s substantive rules about priority, crafting a forceful argument about what procedural values the U.S. Supreme Court sought to uphold when it penned Jevic. In doing so, Lipson expounds on a broader truth about the co-option of corporate reorganization’s process in the name of value preservation. Procedural justice teaches that the process of adjudication is as important as the final outcome. If chapter 11 is to remain respected, the lessons of Jevic that Lipson brings to light must be acknowledged and discussed fully. This Response expands upon Lipson’s argument to add to the conversation about the place of procedural justice in corporate reorganization. It considers how Jevic’s emphasis on process should embolden bankruptcy courts to more rigorously assess chapter 11’s procedures. It also identifies two points at the beginning of chapter 11 cases that are ripe for analysis under Jevic’s process lens.

Keywords: Jevic, procedural justice, chapter 11, bankruptcy, reorganization, corporate reorganization, secured credit, debtor in possession financing, structured dismissals, 363 sales, process, legal process, aggregate litigation

JEL Classification: K22

Suggested Citation

Foohey, Pamela, Jevic's Promise: Procedural Justice in Chapter 11 (December 10, 2018). 93 Wash. L. Rev. Online 128 (2018), Available at SSRN: https://ssrn.com/abstract=3299052

Pamela Foohey (Contact Author)

Yeshiva University - Benjamin N. Cardozo School of Law

55 Fifth Ave.
New York, NY 10003
United States

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
56
Abstract Views
565
rank
452,294
PlumX Metrics