Law360, New York ( October 24, 2016, 1:47 PM EDT) -- The U.S. Supreme Court will hear the case of Czyzewski v. Jevic Holding Corp. during the new term that began this month. The questions it presents are relatively simple. First, can a bankruptcy court, in dismissing a case under the U.S. Bankruptcy Code, permit parties to "structure" the dismissal to include substantive provisions regarding the distribution of assets of a debtor's bankruptcy estate, instead of simply dismissing the case and leaving parties to their remedies under applicable nonbankruptcy law? If yes, then can such provisions effect a distribution of those assets in a manner that contravenes the Bankruptcy Code's priority scheme? Most observers anticipate that the Court will focus on solely on the second question, and issue a fairly narrow ruling. A ruling on the first question, however, would be far broader and could have as significant an impact on Chapter 11 bankruptcy practice as any case that the Court has decided in decades....