United States Seventh Circuit

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IN THE MATTER OF MCGEE, 032297

Having demanded and received a security deposit under statutory terms designed to ensure that the money would be available for return to the tenants if they kept their own promises, the landlord was obliged to act as the tenants' fiduciary in investing and preserving the funds. Her making off with the money was an act of defalcation disqualifying her from a discharge per Bankruptcy Code section 523(a)(4).

Appellate Information

  • Decided 12/23/2003
  • Published 12/23/2003

Judges

Court

  • United States Seventh Circuit

Counsel