U.S. Supreme Court Agrees To Hear 'Defalcation' Bankruptcy Case

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on Oct. 29 agreed to hear a case to determine whether a defalcation was committed by a debtor who, prior to filing for bankruptcy, had been appointed the trustee of his father's life insurance trust and took out three loans from the trust he...

U.S. Supreme Court Hears Arguments In Case Of Debtor's Alleged Defalcation

WASHINGTON, D.C.- (Mealey's) The U.S. Supreme Court on March 18 heard oral arguments in a case involving a bank's claim that a debtor who had acted as trustee for his father's insurance trust acted recklessly and was guilty of defalcation for making loans to himself during the time he had...

U.S. Supreme Court Remands Bankruptcy Defalcation Case, Says Higher Standard Needed

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on May 13 unanimously vacated and remanded a case involving a bank's claim that a debtor who had acted as trustee for his father's insurance trust was guilty of defalcation for making loans to himself during the time he had control of the...