United States Fifth Circuit

Where debtor actually knew at the time he prepared and distributed the final offering materials that the stock sale would not qualify for push-down accounting and therefore the stock would instantly be worthless upon sale, his willful behavior qualifies as defalcation within the meaning of 11 USC 523(a)(4).

Appellate Information

• Decided 06/21/2001
• Published 06/21/2001

Judges

• DeMOSS, Circuit Judge:, Before JOLLY, DeMOSS and STEWART, Circuit Judges.

Court

• United States Fifth Circuit

Counsel

• For Appellant:
  
• Richard B. Kuniansky (argued), Kuniansky, Karahan & Rozan, Houston, TX, for Appellant.


• For Appellees:
  
• Richard L. Rennert,Elizabeth Reitz Moore (argued), Martin Jefferson Davis, Office of Thrift Supervision, Washington, DC, for Appellee.