Bankruptcy Experts Discuss Supreme Court's Ruling in Stern v. Marshall
The Supreme Court ruled on Thursday, June 23, 5-4 against the estate of Anna Nicole Smith, saying that a bankruptcy judge's decision giving millions to Smith from the estate of oil tycoon J. Howard Marshall was decided incorrectly because those judges do not have the constitutional right to enter a final judgment on a state law counterclaim to a proof of claim.
Prof. Richard Lieb is a professor of law at St. John's Law School and was a founding member of law firm Kronish Lieb Weiner & Hellman LLP, which merged with Cooley Godward LLP in 2006. Prof. Lieb filed a brief for the petitioner.
Prof. Todd J. Zywicki is George Mason University Foundation Professor of Law at George Mason University School of Law and Senior Scholar of the Mercatus Center at George Mason University. Prof. Zywicki signed on to a brief for the respondent.
Hon. Kevin J. Carey is Chief U.S. Bankruptcy Judge for the District of Delaware in Wilmington and serves as the bankruptcy judge representative on the Third Circuit Judicial Council. He previously served as a U.S. Bankruptcy Judge for the Eastern District of Pennsylvania.
Former ABI Resident Scholar Prof. Jean Braucher of the University of Arizona School of Law is the moderator for the teleconference.