Czyzewski v. Jevic Holding Corp.

Mar

2017

Ruling

The Supreme Court ruled that a bankruptcy court did not have the legal power to order apriority-skipping kind of distribution scheme in connection with a chapter 11 dismissal.(Supreme Court)

Issue(s)

Effect of Dismissal; Specific Effects.

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Court : Supreme Court

Commercial opinion summary, case decided on March 22, 2017 , LexisNexis #0417-004

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11 U.S.C.
- § 903
- § 903(1)

Puerto Rico v. Franklin Cal. Tax-Free Trust U.S.

Jun

2016

Ruling

Puerto Rico was not completely excluded from the definition of "state" under chapter 9 and was barred from enacting its own municipal bankruptcy scheme.

Issue(s)

Could Puerto Rico enact its own municipal bankruptcy law if it was not eligible to file for bankruptcy under chapter 9?

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Court : Supreme Court

Commercial opinion summary, case decided on June 13, 2016 , LexisNexis #0616-099

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11 U.S.C.

Husky International Electronics Inc. v. Ritz

May

2016

Ruling

Fraudulent conveyance was grounds for nondischargeable debt, even in the absence of a fraudulent representation.

Issue(s)

Whether an exception to discharge for "actual fraud" under 11 U.S.C.S. § 523(a)(2)(A) encompasses fraudulent conveyance schemes, even when those schemes do not involve a false representation.

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Court : Supreme Court

Commercial opinion summary, case decided on May 16, 2016 , LexisNexis #0516-122

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11 U.S.C.

Bullock v. Bankchampaign N.A.

May

2013

Ruling

A finding of nondischargeability of a debt on grounds of fiduciary defalcation requires an intentional wrong in absence of bad faith, moral turpitude or other immoral conduct.

Procedural posture

Beneficiaries of a trust obtained a judgment against petitioner trustee of the trust that the trustee breached fiduciary duties by borrowing money from the trust for personal gain. Upon the grant of a writ of certiorari, the trustee appealed the judgment of the U.S. Court of Appeals for the Eleventh Circuit which affirmed that the judgment debt in bankruptcy based on fiduciary defalcation was nondischargeable under 11 U.S.C.S. § 523(a)(4).

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Court : Supreme Court

Consumer opinion summary, case decided on May 13, 2013 , LexisNexis #0513-082

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