Late this summer, the United States District Court for the Northern District of Illinois, Eastern Division, took on an issue of first impression – whether the fraud of one partner can be imputed to an “innocent” partner in order to render a judgment non-dischargeable.
USA, Illinois, Company & Commercial, Construction, Insolvency & Restructuring, Litigation, Frost Brown Todd LLP, Debtor, Breach of contract, Fraud, Interest, Arbitration award, Debt, Negligence, Joint and several liability, US Congress, US District Court for Northern District of Illinois
In In re Kohls, 2007 LEXIS 76 (Bankr NDWVa 2007), the debtor filed this adversary proceeding against the Bank to cancel indebtedness and recover damages related to a $34,864 loan that the Bank made to the Debtor on the grounds that the loan was unconscionable at the time it was executed in violation of W. Va. Code § 46A-2-121.
USA, West Virginia, Banking, Insolvency & Restructuring, Litigation, Frost Brown Todd LLP, Debtor, Debt, Unconscionability, Refinancing, Capital punishment, United States bankruptcy court