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The Security National Bank of Sioux City, IA v. Vera T. Welte Testamentary Trust

Summarizing by Amir Shachmurove

Graham Mortgage Corp. v. Goff (In the Matter of Goff)

Graham Mortgage Corp. v. Tommy Goff, No. 13-41158
The Fifth Circuit affirmed the lower court's decision that (a) creditor was entitled to partial summary judgment, under section 727(a)(3), because Debtor failed to adequately maintain his books and records, (b) Debtor was not entitled to reconsideration of summary judgment ruling on account of "new" evidence that was in his control at the time of the original ruling, and (c) Debtor's failure to adequately maintain books and records was not justified under the circumstances of the case.
Procedural context:
Lower court granted creditor's motion for partial summary judgement as to Debtor's failure to adequately maintain books and records under section 727(a)(3), before conducting trial on issue of Debtor's justification.
Debtor operated a complex network of real estate development limited partnerships. When the complex network crumbled, Debtor filed a chapter 7 bankruptcy rather than submit to post-judgment state court discovery. Unfortunately, Debtor failed to adequately maintain books and records, including, in particular, giving away several computers that contained financial records.
Davis, Smith and Clement, Circuit Judges.

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