Not So Fast - Supreme Court Holds Prepetition Fraudulent Transfer Precludes Post-Petition Discharge in Husky International

One of the goals of the Bankruptcy Code is to provide a debtor with a fresh start. The discharge of prepetition debts at the conclusion of a bankruptcy case is one of the most important ways to attain this fresh start.  On May 16, 2016, the Supreme Court made it harder for debtors to obtain a fresh start by broadening an exception to discharge.

Filed under:
USA, Insolvency & Restructuring, Litigation, White Collar Crime, Orrick, Herrington & Sutcliffe LLP, Bankruptcy, Debtor, Fraud, Debt, Bankruptcy discharge, Title 11 of the US Code, Fifth Circuit
Authors:
Raniero D'Aversa , Douglas S. Mintz , Robert Loeb , Kelsi Corkran , Amy G. Pasacreta , Monica Perrigino
Location:
USA
Firm:
Orrick, Herrington & Sutcliffe LLP