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Analysis

Justices Remind Creditors To Get Debt Agreements In Writing

Law360 (June 4, 2018, 9:58 PM EDT) -- Creditors who rely on the good faith of debtors for repayment were firmly reminded Monday that any agreement to extend credit should be in writing, according to experts weighing in on the U.S. Supreme Court's decision concerning the dischargeability of consumer debts procured by fraudulent statements.

In a debtor-friendly interpretation of a U.S. Bankruptcy Code provision dealing with the dischargeability of a common type of obligation, the court unanimously ruled Monday that debts obtained using false statements "respecting the debtors' ... financial condition" can be terminated...
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Case Information

Case Title

Lamar, Archer & Cofrin, LLP, Petitioner v. R. Scott Appling


Case Number

16-1215

Court

Supreme Court

Nature of Suit

3422 Bankruptcy Appeals Rule 28 USC 158

Date Filed

April 11, 2017

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