Attorneys React To High Court's Bankruptcy Fraud Ruling

Law360, New York (May 16, 2016, 8:27 PM EDT) -- The U.S. Supreme Court declined Monday to establish a narrow interpretation of “actual fraud” in determining whether debts can be discharged through bankruptcy, overturning the Fifth Circuit and endorsing a broader view of a provision that bars parties from shedding debts obtained under false pretenses. Here, attorneys tell Law360 why the Husky International Electronics Inc. v. Ritz decision is significant.

G. Eric Brunstad Jr., Dechert LLP

"The Bankruptcy Code excludes from a bankrupt debtor’s discharge the debtor’s liability for any debt for money, property, services, or credit to the extent the debt was 'obtained by' actual fraud. By its plain terms, Section...

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