On Nov. 2, 2015, the Honorable Vincent F. Papalia, sitting in the United States Bankruptcy Court for the District of New Jersey, issued a 58-page opinion in the In re Petersburg Regency bankruptcy matter, 540 B.R. 508 (Bankr. D.N.J. 2015) (the “Opinion”), whereby the court approved a settlement and structured dismissal of the debtor’s bankruptcy case under the principles of In re Jevic Holding Corp., 787 F.3d 173, 175 (3d Cir. 2015), as amended (Aug. 18, 2015). Jevic is currently on appeal before the Supreme Court in Czyzewski v. Jevic Holding Corp., 136 S. Ct. 2541 (2016).
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