Document Type

Article

Publication Date

2013

Abstract

CASE AT A GLANCE

Petitioner Randy Curtis Bullock, trustee of a family trust, loaned trust funds to himself, jointly with his mother, for business purposes. These loans were all repaid. A state court entered judgment against him for breach of fiduciary duty, ordering that profits from the loaned moneys be paid to the trust. The Supreme Court must decide whether Bullock’s liability for self-dealing, without conscious misbehavior, is nondischargeable as a “defalcation while acting in a fiduciary capacity.

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