United States Ninth Circuit

The Court of Appeals affirms the district court's affirmance of the bankruptcy court's judgment after a bench trial in an adversary proceeding held that a corporate insider who personally guaranteed his corporation's loan is absolved of any preference liability to which he might otherwise have been subjected, where he had previously waived his indemnification rights against the corporation, he had a bona fide basis for doing so, and he took no subsequent actions to negate the economic impact of that waiver.

Appellate Information

• Decided 05/06/2015
• Published 05/06/2015

Judges

• Gillman

Court

• United States Ninth Circuit

Counsel