- 11 U.S.C.
Allen v. Davis (In re Loughery)
Oct
18
2010
Ruling
Settlement of securities fraud action in which debtor did not admit to violations was dischargeable.
Procedural posture
Creditors filed an adversary proceeding against chapter 7 debtor, seeking a determination that the debtor owed the creditors a debt that was nondischargeable under 11 U.S.C.S. § 523(a)(19) because he violated federal and state securities laws when he sold them stock in a corporation. The creditors filed a motion for judgment on the pleadings.
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Court
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