- Case Type:
- Case Status:
- Affirmed in part and Reversed in part
- No. 19-30325 (5th Circuit, Aug 03,2020) Published
- Fifth Cir. affirmed in part, reversed in part, ruling bankruptcy court (MD La.) properly granted summary judgment on certain claims, but genuine issue of material fact precluded summary judgment on other. Creditor raised genuine issue of material fact regarding whether it consented to transfer of cash collateral or whether debtor transferred cash collateral knowing creditor did not consent.
- Procedural context:
- Bankruptcy court (MD La.) granted partial summary judgment in favor of debtor-defendant on creditor's claims for nondischargeability. Following trial, bankruptcy court found all but $1,626 of debt dischargeable. Creditor appealed to Middle District of Louisiana, which affirmed. Creditor appealed to 5th Cir.
- Green owned several natural disaster remediation businesses and had personally guaranteed debts that his businesses owed to Vision Bank, a predecessor-in-interest of Southeast Property Holdings, LLC (SEPH). After Green’s businesses defaulted on those debts in 2014, SEPH sued and received a final judgment in its favor. The Southern District of Alabama later issued a charging order to facilitate SEPH’s collection of that judgment. The charging order directed certain of Green’s companies to “distribute to SEPH any amounts that become due or distributable to [Green].” A few years later, Green filed for Chapter 7 bankruptcy. SEPH then filed an adversary proceeding against Green based on the 2014 judgment, which by that time exceeded $41 million (including interest). SEPH argued that the debt was nondischargeable because it (1) was obtained by fraud (excepted from discharge under § 523(a)(2)(A)), or else (2) inflicted willful and malicious injury (excepted under § 523(a)(6)).
- Dennis, Graves, Willett
In re Barbara Wigley
Summarizing by Bradley Pearce
Publicly Traded Firms Paid Dividends, Bought Their Own Stock after Receiving PPP loans to Pay Employees
3145 in the system
1 Being Processed