The Court reversed the bankruptcy court's ruling granting summary judgment in favor of the defendants, and remanded for further proceedings. The Court held that funds paid by the debtor's...
Where the Bankruptcy Court hears an adversary claim brought through §523 and; no fiduciary relationship exists between Debtor and Creditor, which in bankruptcy requires express or technical trust...
Danduran v. Kaler, No. 10-6042 (B.A.P. 8th Cir. 2010).
Ruling:
A debtor may engage in pre-bankruptcy planning to convert non-exempt assets to exempt assets if the record shows that the debtor's conversion was absent of fraudulent intent.
