Don’t Rob Peter to Pay Paul

When businesses experience financial difficulties, it is very common for them to “rob Peter to pay Paul.” Occasionally, this takes the form of using taxes that have been withheld from employees’ paychecks to pay expenses instead of remitting those funds to the IRS.  Of course, it is well known that even though such obligations are […]

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Husky Is Not So Lucky for Debtors – the United States Supreme Court’s Recent Opinion on the Denial of Debt Dischargeability Under Bankruptcy Code § 523(a)(2)(a)’s Actual Fraud Provision

On May 16, 2016, the United States Supreme Court decided the term “actual fraud” in Bankruptcy Code § 523(a)(2)(A) encompasses forms of fraud, like fraudulent conveyance schemes, that can be effected without a false representation by a debtor. Importantly, the Husky International Electronics, Inc. v. Ritz, No. 15-145, 2016 WL 2842452 (U.S. May 16, 2016) […]

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