Partner Joe Schwartz and Counsel Kevin Larner of Riker Danzig’s Bankruptcy Group shared their thoughts with Law360 on the recent U.S. Supreme Court case Husky International Electronics Inc. v. Ritz. The Court declined 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. Joe and Kevin stated that this ruling is “an important decision for creditors who are victims of a debtor’s fraud that occurs absent a misrepresentation.”
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