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Goldstein v. Dealer Servs. Corp. (In re Goldstein)

Ruling: 
Bankruptcy court sua sponte held that debt under inventory financing program was nondischargeable due to debtor's sale of vehicle out of trust without remitting proceeds.
Procedural posture: 
Defendant finance company sought summary judgment on a counterclaim that $73,697 owed by plaintiff debtor, an auto dealer, under an inventory financing program was nondischargeable per 11 U.S.C.S. § 523(a)(4) because debtor's alleged sale of vehicles "out of trust" without remitting proceeds to defendant breached a fiduciary duty. At issue was whether defendant's claims were supported by the Indiana Trust Code, Ind. Code § 30-4-1-1 et seq.
Issue: 
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Consumer case opionion summary, case decided on October 31,2011, LexisNexis #1211-048