Heide v. Juve, No. 12-6058 (8th Cir. 2013)
Annotate this CaseDebtor appealed the final judgment of the bankruptcy court awarding plaintiff $350,490 and determining that amount to be nondischargeable under 11 U.S.C. 523(a)(2)(A). The bankruptcy appellate panel (BAP) concluded that the record did not support a finding that the $300,000 loan under the modified oral agreement was made in reliance on a fraudulent representation made concurrently with the creation of the debt. Thus, that portion of plaintiff's claim could not be excepted from discharge and the BAP reversed the bankruptcy court's judgment to that extent. However, the record did support a finding that the Las Vegas deal was between plaintiff and debtor individually and the further finding that plaintiff established each of the requirements of section 523(a)(2)(A) with respect to the $50,490 he loaned debtor pursuant to that agreement. Thus, the BAP affirmed the bankruptcy court's determination of nondischargeability to that extent. The court remanded for further proceedings.
Court Description: Bankruptcy Appellate Panel. For the Panel's earlier opinion in the matter, see Heide v. Juve (In re Juve), 455 B.R. 890 (BAP 8th Cir. 2011). The record does not support the bankruptcy court's finding that debtor made a fraudulent representation to Heide concurrent with Heide's loans under the parties' modified oral agreement, and the bankruptcy court's judgment is reversed to the extent it determined $300,000 of the amount debtor owes Heide is nondischargeable; however, another portion of the money loaned to debtor was obtained under false pretenses, and the record amply supported the bankruptcy court's conclusion that the debt for $50,490 arising from a 2008 Las Vegas deal was a personal debt incurred by debtor and should be excepted from discharge. [ April 17, 2013
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