Samuel J. Temperato Trust v. Unterreiner, et al., No. 11-6039 (8th Cir. 2011)
Annotate this CaseDefendants appealed from an order and judgment of the bankruptcy court granting summary judgment on plaintiff's complaint to determine dischargeability pursuant to 11 U.S.C. 523(a)(2)(B). The court held that plaintiff failed to show that it was entitled to judgment as a matter of law under the plain language of the statute where plaintiff had not met several statutory requirements. Accordingly, the court reversed and remanded with instructions to enter judgment for defendants.
Court Description: Bankruptcy Appellate Panel. Debtors' representations were made to a bank, not the trust, and the loan was made by the bank, not the trust; as a result, because the trust could not establish that debtors obtained money or financing from it at the time of the representations, it failed to establish the statutory requirements of Sec. 523(a)(2), and the bankruptcy court erred in granting the trust's motion to deny debtors a discharge; reversed and remanded for further proceedings.
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