January 3, 2012 -- Professor Kenneth Klee commented on the decision in Stern v. Marshall in an article in the Dow Jones' Daily Bankruptcy Review.
So far, there’s been a “very wide disparity” in how judges are incorporating the decision into their rulings, according to Kenneth Klee, who represented Marshall’s estate.
“You’ve got everything ranging from bankruptcy judges saying ‘business as usual, no problem’...to bankruptcy judges saying ‘I can do practically nothing,’” said Klee, a University of California, Los Angeles law professor and an attorney with Klee, Tuchin, Bogdanoff & Stern.
“I don’t think we’re going to see corrective legislation,” Klee said. “It’s an election year coming up.”