High Court Broadens the Definition of “Actual Fraud” under Section 523(a)(2)(A)

The Supreme Court’s Decision:

Filed under:
USA, Insolvency & Restructuring, Litigation, White Collar Crime, Bryan Cave Leighton Paisner (Bryan Cave), Bankruptcy, Debtor, Fraud, Misrepresentation, Common law, Fifth Circuit
Authors:
Purvi Shah , Michelle McMahon
Location:
USA
Firm:
Bryan Cave Leighton Paisner (Bryan Cave)
10th Circuit holds that first time transactions fall within 11 U.S.C. 547(c)(2), ordinary course of business defense

In a decision that surprised many, the United Stated Circuit Court of Appeals for the Tenth Circuit (the “10th Circuit Court of Appeals”) affirmed decisions finding that a payment made on account of a first time transaction between a debtor and creditor can qualify for the ordinary course of business defense under 11 U.S.C. § 547(c)(2).

Filed under:
USA, Banking, Insolvency & Restructuring, Litigation, Bryan Cave Leighton Paisner (Bryan Cave), US Code
Authors:
Purvi Shah , Michelle McMahon
Location:
USA
Firm:
Bryan Cave Leighton Paisner (Bryan Cave)
10th Circuit holds that first time transactions fall within 11 U.S.C. 547(c)(2), ordinary course of business defense

In a decision that surprised many, the United Stated Circuit Court of Appeals for the Tenth Circuit (the “10th Circuit Court of Appeals”) affirmed decisions finding that a payment made on account of a first time transaction between a debtor and creditor can qualify for the ordinary course of business defense under 11 U.S.C. § 547(c)(2).

Filed under:
USA, Banking, Insolvency & Restructuring, Litigation, Bryan Cave Leighton Paisner (Bryan Cave), US Code
Authors:
Purvi Shah , Michelle McMahon
Location:
USA
Firm:
Bryan Cave Leighton Paisner (Bryan Cave)