|Docket No.||Op. Below||Argument||Opinion||Vote||Author||Term|
|11-166||7th Cir.||Apr 23, 2012||May 29, 2012||8-0||Scalia||OT 2011|
Holding: Debtors may not obtain confirmation of a Chapter 11 bankruptcy “cramdown” plan that proposes to sell substantially all of the debtors’ property at an auction, free and clear of the Bank’s lien, using the sale proceeds to repay the Bank, but that does not permit the Bank to credit-bid at the sale.
Plain English Summary: This case considers the procedures that apply when a bankrupt company wants to sell a major asset –in this case, a hotel. The lender that has a mortgage on the asset argues that it has a right to take the asset if it goes unpaid. The borrower argues that the asset should be sold and that the lender gets the asset only if it is willing to pay the most for it. The lender says this is ridiculous, because it requires the lender to put in new cash to buy an asset for which it already has an unpaid loan. The Court agreed with the lender.
Judgment: Affirmed, 8-0, in an opinion by Justice Scalia on May 29, 2012. (Kennedy, J., recused)
Merits Briefs for the Petitioners
Merits Briefs for the Respondent
Amicus Briefs in Support of the Respondent
And then there were four. (Photo from before yesterday's investiture of Justice Ketanji Brown Jackson, by the Supreme Court of the United States.)
Art Lien, AKA @Courtartist, retired over the summer after 45 years drawing the Supreme Court. For the last nine of those years, Art worked for SCOTUSblog. We're honoring his journalism with a retrospective on his work. Trust us, it's a feast for the eyes:
Forty-five years of visual journalism from a supremely talented court artist - SCOTUSblog
For 45 years, Arthur Lien witnessed, sketched, and recorded for posterity some of the Supreme Court's most historic ...
Justice Jackson's investiture ceremony has concluded. After the ceremony, she took the traditional walk down the court's front steps, accompanied by the chief justice. She also shared a moment with her husband, Patrick, on the plaza after the ceremony. Photos by @katieleebarlow.
Today at SCOTUS: The investiture of Ketanji Brown Jackson, the first Black woman to serve as a justice. Jackson was sworn in over the summer, so the investiture is purely ceremonial. Joe Biden and Kamala Harris reportedly are expected to attend the invite-only event at the court.
JUST IN: The Supreme Court will continue to provide a live audio stream of oral arguments in the new term that begins on Monday. https://www.supremecourt.gov/publicinfo/press/pressreleases/pr_09-28-22
SCOTUS releases new "circuit justice" lineup, with Jackson taking over the Boston-based 1st Circuit (formerly handled by Breyer). Each justice reviews emergency appeals from the regions covered by his or her circuits. (Controversial cases usually get referred to the full court.)