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Supreme Court rules on bankruptcy matter

Kentucky residents may be interested in the outcome of a recent Supreme Court case involving bankruptcy issues. In Wellness International Network, Ltd. v. Sharif, a majority of the justices ruled that bankruptcy judges have jurisdiction over disputed issues when the debtor gives consent. This means that bankruptcy judges can issue rulings and final orders on bankruptcy matters, and they do not need to go through district judges.

The Supreme Court case involved the matter of whether the bankruptcy court could issue a final ruling on a dispute involving assets held in a trust. The matter in dispute was whether or not the assets were part of the bankruptcy estate or separate from the bankruptcy estate.

In the instant case, the Supreme Court had to decide whether the bankruptcy court had jurisdiction over the dispute and whether it could exercise jurisdiction over the dispute if it was given consent. Although the opinion did not address the question of whether or not bankruptcy judges had jurisdiction over disputes, the Court ruled that bankruptcy judges could exercise jurisdiction over disputes if they were given consent to do so. If a party in a bankruptcy dispute refuses to provide consent for the bankruptcy judge to have jurisdiction, a district judge must rule on the matter.

A bankruptcy case can become complicated when there are issues in dispute. Those who are considering filing for personal bankruptcy may want to obtain the advice and counsel of an attorney to ensure that they are following all of the proper procedures. There are specific eligibility and other requirements that the attorney can explain.

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