News & Analysis as of

Debtor-Creditor Husky International Electronics v Ritz

Holland & Knight LLP

Supreme Court Reverses Fifth Circuit's Interpretation of "Actual Fraud"

Holland & Knight LLP on

In a resounding 7-1 decision, the U.S. Supreme Court resolved an existing split among the U.S. Circuit Courts of Appeal, determining that "actual fraud" under Section 523(a)(2)(A) of the U.S. Bankruptcy Code does not require...more

Ward and Smith, P.A.

A Win for Creditors: The United States Supreme Court Expands the Meaning of Actual Fraud for Bankruptcy Discharge

Ward and Smith, P.A. on

The United States Supreme Court recently decided a case that will be a powerful tool for lenders dealing with borrowers who engage in schemes to avoid payment of their debts, such as an improper transfer of their assets...more

Foley & Lardner LLP

Supreme Court Expands Fraud Exception to Favor Creditors

Foley & Lardner LLP on

On May 16, 2016 the United States Supreme Court issued an opinion regarding the meaning of “actual fraud” under the Bankruptcy Code. Husky Int’l Electronics, Inc. v. Ritz represents a win for creditors by making it easier to...more

A&O Shearman

High Court Rejects Narrow Bankruptcy Fraud Exemption

A&O Shearman on

In its recently issued decision in Husky International Electronics, Inc. v. Ritz, a 7-1 majority of the Supreme Court has clarified that intentionally fraudulent transfers designed to hinder or defraud creditors can fall...more

Parker Poe Adams & Bernstein LLP

Supreme Court Issues Opinions Favorable to Financial Services Companies

May is usually a busy month on the Supreme Court before the justices head off for some summer R&R. It is historically a time when many opinions are issued, and May 2016 has been no exception. ...more

BCLP

High Court Broadens the Definition of “Actual Fraud” under Section 523(a)(2)(A)

BCLP on

The Supreme Court’s Decision: On May 16, 2016, in Husky International Electronics, Inc. v. Daniel Lee Ritz, Jr., Case No. 15-145, the Supreme Court held that the term “actual fraud” in § 523(a)(2)(A) of the Bankruptcy...more

Perkins Coie

Supreme Court Rules Exception to Bankruptcy Discharge for Fraud Claims Extends to Fraudulent Transfer Liability

Perkins Coie on

In a decision rendered on May 16, 2016, in the case of Husky International Electronics, Inc. v. Ritz, the U.S. Supreme Court ruled that the exception to bankruptcy discharge for debts incurred through actual fraud applies to...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Husky International Electronics, Inc. v. Ritz

On May 16, 2016, the U.S. Supreme Court decided Husky International Electronics, Inc. v. Ritz (No. 15-145), holding that the term “actual fraud” in § 523(a)(2)(A) of the Bankruptcy Code (one of the discharge exceptions)...more

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