Law360 Quotes Oren Haker on Supreme Court Decision Limiting Debt Plan Appeals

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Partner Oren Haker was quoted in Law360 in an article titled “Lawyers React To High Court's Limiting Of Debt Plan Appeals.” On May 4, the U.S. Supreme Court  ruled that corporations and individuals do not have the absolute right to immediately appeal the rejection of a bankruptcy plan. Law360 solicited input from a number of attorneys as to the significance of the ruling, including Haker’s below.

“The bankruptcy process works best when parties are encouraged to negotiate to resolve their differences, rather than immediately resorting to formal litigation, which only increases fees and costs to the detriment of unsecured creditors. Today’s decision from the Supreme Court affirms two principles: First, that resorting to the appeals process should not be the first option for a debtor whose plan is not confirmed; and second, that the confirmation process should remain firmly within the bankruptcy judge’s purview and should not play out across the appellate courts. Speed and efficiency are key to a successful restructuring, and today’s decision affirms their importance.”

Read “Lawyers React To High Court's Limiting Of Debt Plan Appeals,” published May 4, 2015. (Subscription required.)

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