Bill on Bankruptcy: Why is Kodak's Stock Soaring?
The word “defalcation” remains one of the more frightening terms in the title insurers’ lexicon. But with the proper training, preparation, and response, defalcations can be managed, and the title insurers’ exposure...more
The Bankruptcy Code prevents an individual debtor from discharging certain debts, including, upon request of the creditor, debts for “fraud or defalcation while acting in a fiduciary capacity.” 11 U.S.C. § 523(a)(4). The...more
Whether because of the declining docket of the Court or the technical subject-matter involved, bankruptcy topics have come before the United States Supreme Court infrequently in recent years. This term, the Court heard a case...more
In a recent unanimous decision, the United States Supreme Court made it more difficult to avoid a bankruptcy debtor discharging a debt tied to "defalcation while acting in a fiduciary capacity." In Bullock, the Court stated...more
The U.S. Bankruptcy Code provides that a personal debt is not dischargeable if the debt had been occasioned by the debtor’s defalcation while acting in a fiduciary capacity. Courts of appeals had long disagreed about the...more