EagleBank v. Korman (In re Korman)
Sep
26
2012
Ruling
Discharge denied as to debtor son, but not as to debtor father, due to false financing certifications prepared without father's knowledge.
Procedural posture
Plaintiff bank sued defendants, a father and son who were chapter 7 debtors whose jointly owned and operated business was an involuntary debtor in a separate case, on claims that obligations of defendants arising out of plaintiff's financing of the business via a revolving line of credit (LOC) secured by accounts receivable (A/Rs) were nondischargeable per 11 U.S.C.S. § 523 and that discharge was properly denied to the son per 11 U.S.C.S. § 727.
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Court
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