HHR Bankruptcy Report

Category Archives: Fifth Circuit

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Fraud is Broad: SCOTUS Declines to Accept Narrow Interpretation of “Actual Fraud” in 11 U.S.C. § 532(a)(2)(A)

Posted in Fifth Circuit, SCOTUS, Section 523(a)(2)(A)
Last November, the HHR Bankruptcy Report reported on the Supreme Court’s grant of the petition for certiorari in Husky International Electronics, Inc. v. Ritz, a case in which the Fifth Circuit had held that “actual fraud” under section 523(a)(2)(A) of the Bankruptcy Code (which limits the breadth and effect of a debtor’s discharge) required proof… Continue Reading

What Constitutes Fraud in Bankruptcy? SCOTUS To Resolve First And Fifth Circuit Split In 2016

Posted in Fifth Circuit, First Circuit, Fraudulent Transfer, SCOTUS
Earlier this month the Supreme Court granted certiorari to hear the Fifth Circuit case Husky International Electronics, Inc. v. Ritz, which originated in the United States Bankruptcy Court for the Southern District of Texas. The Fifth Circuit’s decision interprets “actual fraud” in the context of an exception to a debtor’s discharge that would require a… Continue Reading

TMT Procurement – DIP Lender Did Not Meet “Good Faith” Requirement

Posted in Chapter 11, Debtor-in-Possession Financing, Fifth Circuit
The Fifth Circuit recently held that a debtor-in-possession (DIP) lender did not qualify as a “good faith” lender, overturning orders of the United States District Court and Bankruptcy Court for the Southern District of Texas, including a final order approving DIP financing.  In re TMT Procurement Corp., 764 F.3d 512 (5th Cir. 2014).   Notably, the… Continue Reading