Wednesday, May 19, 2010

Section 523(a)(4): Embezzlement

Section 523(a)(4) provides an exception to the general


discharge for debtors who embezzle assets of an objecting


creditor. Courts look to the federal common law definition


of embezzlement for purposes of non-dischargeability as the


fraudulent appropriation of property by a person to whom


such property has been entrusted, or into whose hands it has


lawfully come.



To establish a claim of embezzlement under §523(a)(4), a


creditor must show that (1) property owned by another is


rightfully in the possession of debtor; (2) debtor’s


appropriation of such property to a use other than the use


for which the property was entrusted to debtor; and (3)


circumstances indicating fraudulent intent. Absent intent to


defraud, a debtor’s appropriation of funds does not arise to


the level of embezzlement.
 
Warmest Regards,

Bob Schaller

Your Bankruptcy Advisor

Blog By: Attorney Robert Schaller (Bob's bio) of the Schaller Law Firm Click for Bankruptcy Lawyer Job Opportunities. You are invited to contact Attorney Schaller at 630-655-1233 or visit his website at Discharging Student Loans to learn about how the bankruptcy laws can help you. Bob is a member of the National Bankruptcy College Attorney Network, American Bankruptcy Institute and the National Association of Consumer Bankruptcy Attorneys. For information about Chapter 7 bankruptcy Click Here
For information about Chapter 13 bankruptcy Click Here NOTE: Robert Schaller looks forward to the opportunity to talk with you about your legal issues. But please remember that all information on this blog is for advertising and general informational purposes only. Please read Bob's disclaimer. I recommend that you review a few other blogs that may be of interest to you. These blogs are identified in the right column and are set forth below: bankruptcy issues blog; bankruptcy and family law issues blog; bankruptcy and employment issues blog; adversary defense blog; and bankruptcy and student loan issues blog.

2 comments:

  1. Great job for publishing such a nice article. Your article isn’t only useful but it is additionally really informative. Thank you because you have been willing to share information with us. michael phillips lawyer

    ReplyDelete
  2. The license was extended in 1986 for an additional 15 years however expired at the finish of 2001. For essentially the most half, the participant in Korea is offered the same bonuses because the residents of some other nation. In truth, since there aren't any government rules on deposit incentives, operators have even more leeway in their capacity to supply enhancements than they do in highly regulated markets just like the UK or the Nordic region. Minimum age protections are in 빅카지노 place in any respect on-line casinos however can differ from 18 to the legal age for residents in your nation to 21 years.

    ReplyDelete