Emory Bankruptcy Developments Journal


This article will focus on the Stern holding and its potentially serious implications both inside and outside of bankruptcy. It will consider perhaps the most troubling question inherent in the Stern holding: what are its implications in light of the established principle that, because of Article III's structural, separation-ofpowers aspect, its application cannot be waived by the parties? Within the answer to that question may lie the future effectiveness of not just the bankruptcy courts, but of federal magistrates, federal arbitration, and other non-Article III adjudicative bodies.