Kinsella v. Todisco (In re Todisco)
Jul
15
2011
Ruling
Debt owed to creditor who invested life savings with debtor was dischargeable absent evidence of defalcation, embezzlement or willful and malicious conduct.
Procedural posture
Creditor, who invested his life savings with debtor, filed an adversary complaint seeking to except debts owed to the creditor from discharge under 11 U.S.C.S. § 523(a)(4) and (a)(6), by converting funds that creditor had entrusted to debtor, breach of fiduciary duty, and willful and malicious injury, in the amount of $620,000, representing the funds entrusted and reasonable interest thereon.
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Court
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