Breach of Duty Judgment Not Dischargeable in Bankruptcy
Fifth Circuit Court of Appeals says claim stems from “fraud or defalcation while acting in fiduciary capacity”
The Fifth Circuit Court of Appeals has ruled that a homeowners’ association judgment for more than $30,000 against a former president for breach of fiduciary duty while in office is not dischargeable in bankruptcy. (Whitaker v. Moroney Farms Homeowners’ Association, Fifth Cir., No. 15-40926, 3/18/16.)
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