- 11 U.S.C.
Centra Bank Inc. v. Burton (In re Burton)
Sep
17
2009
Ruling
Dischargeability proceeding based on debtor corporate principal's breach of fiduciary duty dismissed as to lender but not as to corporation.
Procedural posture
Plaintiffs, a lender and a loan guarantor, brought an adversary proceeding against defendant bankruptcy debtor, a corporate principal who caused a corporation to obtain loans from the lender and personally guaranteed the loans, seeking a determination that debts to the lender and the guarantor were not dischargeable under 11 U.S.C.S. § 523(a)(4) based on fiduciary defalcation. The debtor moved to dismiss the complaint.
ABI Membership is required to access the full summary of Centra Bank Inc. v. Burton (In re Burton) Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
: