Legal Opinion
Official Committee of Unsecured Creditors v. CIT Group/Business Credit Inc. (In re Jevic Holding Corp.)
Court of Appeals for the Third Circuit
Decided May 21, 2015No. 14-1465PublishedCited by 9 opinions
1Opinion of the Court
OPINION OF THE COURT
HARDIMAN, Circuit Judge.
This appeal raises a novel question of bankruptcy law: may a case arising under Chapter 11 ever be resolved in a “structured dismissal” that deviates from the Bankruptcy Code’s priority system? We hold that, in a rare case, it may.
I
A
Jevic Transportation, Inc. was a trucking company headquartered in New Jersey. In 2006, after Jevie’s business began to decline, a subsidiary of the private equity firm Sun Capital Partners acquired the company in a leveraged buyout financed by a group of lenders led by CIT Group. The buyout entailed the extension of an…
2Cases cited19 opinions
- Whitman v. American Trucking Assns., Inc.Supreme Court of the United States · 2001
- Protective Committee for Independent Stockholders of TMT Trailer Ferry, Inc. v. AndersonSupreme Court of the United States · 1968
- Law v. SiegelSupreme Court of the United States · 2014
- Case v. Los Angeles Lumber Products Co.Supreme Court of the United States · 1939
- In Re MartinCourt of Appeals for the Third Circuit · 1996
14 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- In re Sabine Oil & Gas Corp.United States Bankruptcy Court, S.D. New York · 2016
- In re NII Holdings, Inc.United States Bankruptcy Court, S.D. New York · 2015
- Genesis Global Holdco, LLCUnited States Bankruptcy Court, S.D. New York · 2023
- In re: Purdue Pharma L.P., et al.United States Bankruptcy Court, S.D. New York · 2025
- In re: The Hertz Corporation v.Court of Appeals for the Third Circuit · 2024
4 more not listed; retrieve them via the Exa API.