How Will The High Court Define 'Actual Fraud'?

Law360, New York (March 4, 2016, 3:31 PM EST) -- On Tuesday, March 1, 2016, the U.S. Supreme Court heard oral arguments in Husky International Electronics v. Ritz, in which the court will decide whether the discharge exception for "actual fraud" under Section 523(a)(2)(A) of the Bankruptcy Code requires the debtor to have made a false representation to the creditor. 

The decision will resolve a split between the Fifth and the First and Seventh Circuits on the issue. In the case below, in In re Ritz, 787 F.3d 312 (5th Cir. 2015), the Fifth Circuit held that the answer is "yes" — a debtor must have made a false representation to...

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