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Trustee Wins Supreme Court Fight Over Debt Relief Bar

May 14, 2013


Sutherland Partner Tom Byrne was featured in Law360 for his recent victory in the United States Supreme Court.

Byrne represented Randy Curtis Bullock, the petitioner in the case of Bullock v. BankChampaign, which was heard by the High Court to determine the definition of ‘defalcation’ under the Bankruptcy code. The court sided with Byrne, despite a circuit split with the majority of circuit courts reaching the opposite decision.

In a 9-0 decision, the Court held that to prove “defalcation” a creditor must demonstrate that the debtor acted with a culpable state of mind involving knowledge of, or gross recklessness with respect to, the improper nature of the fiduciary behavior.

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click to watch Videocast: DOL Fiduciary Rule Litigation Impacts
Videocast: DOL Fiduciary Rule Litigation Impacts
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