Truck Insurance Exchange, Petitioner v. Kaiser Gypsum Company, Inc., et al.

The Supreme Court ruled that an insurer bearing financial responsibility for bankruptcy claims qualifies as a "party in interest" under the Bankruptcy Code, granting them the right to object to a Chapter 11 reorganization plan. The decision rejected the lower court's "insurance neutrality" doctrine, which had previously limited insurers' ability to participate unless their specific contract rights were directly altered.