Professor Discusses Upcoming SCOTUS Case of Wellness Intl. Network v. Sharif in Wake of Stern v. Marshall - Episode 150
The U.S. Supreme Court's surprising decision in Stern v. Marshall struck down as a violation of Article 3 the congressional statute permitting bankruptcy courts to issue final judgment as to certain state law counterclaims by the estate against creditors without the parties' consent. The decision created uncertainty throughout the bankruptcy court system as to bankruptcy courts' authority and left unanswered a key question: If the parties give their consent, can bankruptcy courts enter final judgment in matters that would otherwise require an Article 3 tribunal? The Supreme Court has agreed to take up this question by granting certiorari in a Seventh Circuit Court of Appeals case, Wellness Int'l Network v. Sharif. In this podcast, Prof. Ralph Brubaker of the University of Illinois College of Law discusses the upcoming case and its possible implications for bankruptcy practice.