On June 4, 2018, the U.S. Supreme Court ruled in Lamar, Archer & Cofrin, LLP v. Appling, No. 16-1215, 138 S. Ct. 1752, 2018 WL 2465174 (U.S. June 4, 2018), that an individual debtor's false statement about a single asset, as...more
Section 523(a)(2)(B) of the Bankruptcy Code provides that a discharge under the Bankruptcy Code does not discharge an individual debtor from any debt for money, property, services, or an extension, renewal, or refinancing of...more
In my last article, I discussed how the Fourth Circuit Court of Appeals affirmed the denial of a Chapter 7 debtor’s discharge because the debtor intentionally lowballed the value of his interest in a real estate investment...more
The Supreme Court held that a statement about a single asset can be a “statement respecting the debtor’s financial condition” for purposes of determining the application of the exception to discharge set forth in Section...more
The recent decision from the United States Supreme Court in Lamar, Archer & Cofrin, LLP v. Appling (“Lamar”), further restricts a creditor’s ability to pursue future recovery on its debt through a nondischargeability action...more
On June 4, the Supreme Court decided Lamar, Archer & Cofrin, LLP v. Appling, No. 16-1215, in a unanimous opinion by Justice Sotomayor. The Court affirmed the Eleventh Circuit and resolved a circuit split about the meaning of...more
The U.S. Supreme Court resolved a dispute about whether debts obtained by false promises to pay (or fraud) can be discharged in bankruptcy. On June 4, 2018, the U.S. Supreme Court issued an opinion affirming the U.S. Court...more
On June 4, 2018, the Supreme Court of the United States issued its opinion authored by Justice Sotomayor in Lamar, Archer & Cofrin, LLP v. Appling impacting the discharge of debts under Bankruptcy Code § 523(a)(2)(A)....more
On June 4, 2018, the Supreme Court of the United States decided Lamar, Archer & Cofrin, LLP v. Appling, No. 16-1215, holding that a statement about a single asset can be a “statement respecting the debtor’s financial...more
Manley Toys Limited once claimed to be the seventh largest toy company in the world. Due to ongoing litigation and declining sales, it entered into a voluntary liquidation in Hong Kong. On March 22, 2016, the debtor’s...more
Restaurants Acquisition I, LLC, owner of the Black-eyed Pea and Dixie House restaurant concepts located in Dallas, Texas, has filed a chapter 11 petition before the United States Bankruptcy Court for the District of Delaware....more
When an insolvent entity files for bankruptcy, it can be tough to be a creditor. But holding equity — stock in a corporation or a membership interest in an LLC, a limited liability company — can be even worse. ...more
Every year, thousands of foreign court judgments are brought to U.S. federal and state courts for recognition and enforcement, raising thorny issues for both U.S. and foreign lawyers seeking to obtain, or oppose, recognition....more