- 11 U.S.C.
Ellin Astin Grading Co. v. Hornyak (In re Hornyak)
Dec
29
2009
Ruling
Construction loan agreements under which draws were to be used to pay creditor did not create fiduciary relationship that could result in nondischargeable debt on default.
Procedural posture
Creditor brought an adversary proceeding against defendant bankruptcy debtor seeking a determination that a debt to the creditor was nondischargeable under 11 U.S.C.S. § 523(a)(4) based on the debtor's fiduciary defalcation in failing to pay the creditor for grading work from proceeds of construction loans. The creditor and the debtor cross-moved for summary judgment.
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Court
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