High Court Declines to Step Into Kmart Bankruptcy Dispute

The Supreme Court declined Monday to consider whether retailer Kmart Corp. should have been allowed to pay more than $300 million to key suppliers immediately after filing for bankruptcy protection. Justices let stand a 7th Circuit ruling that declared Kmart had no authority to pay certain suppliers because it had not proven that the suppliers were so critical to Kmart's operations to justify payments to them over others. The high court's move left lower courts split on the issue.

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