- 11 U.S.C.
First Exchange Bank v. Cross (In re Cross)
Oct
01
2010
Ruling
Loss resulting from debtor officer's default on loan issued against creditor bank's policy was dischargeable and not fiduciary defalcation as debtor was not acting within scope of duties.
Procedural posture
Plaintiff creditor (bank) filed an adversary proceeding seeking to except about $74,000 from the anticipated Chapter 7 discharge of defendant debtor pursuant to 11 U.S.C.S. § 523(a)(4).
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Court
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