Of Counsel Charles Tabb was quoted in a Bloomberg Big Law Business article, “Justices Weigh Bankruptcy Fallout of Unkept Pledge to Pay Lawyers,” about the 11th U.S. Court of Appeals’ decision in Lamar, Archer & Cofrin, LLP v. Appling, about the dischargeability of a debt incurred by false statements “respecting,” or reflecting, their financial condition.
Tabb said that justices can rely on a “plain meaning reading of ‘respecting’ and conclude that even a statement about less than the debtor’s overall financial condition is still ‘respecting’ that condition.”
Tabb also said that the U.S. government – the largest creditor in the case – affirming the decision is “telling,” adding that the court in recent years has shown a “strong disinclination to interpret the Bankruptcy Code in a way that could favor dishonest debtors,” and Appling is “most definitely not a sympathetic ‘honest but unfortunate’ debtor.”
Tabb said that justices can rely on a “plain meaning reading of ‘respecting’ and conclude that even a statement about less than the debtor’s overall financial condition is still ‘respecting’ that condition.”
Tabb also said that the U.S. government – the largest creditor in the case – affirming the decision is “telling,” adding that the court in recent years has shown a “strong disinclination to interpret the Bankruptcy Code in a way that could favor dishonest debtors,” and Appling is “most definitely not a sympathetic ‘honest but unfortunate’ debtor.”
People
Related News
25 July 2024
In the News
Donald Schroeder on Groff – ‘Supreme Court decision is inviting a more fact-based analysis’
Foley & Lardner LLP partner Donald Schroeder assessed the impact of the U.S. Supreme Court’s 2023 decision in a religious accommodation case as it returns to the district court in the Law360 article, “A Year After High Court Spotlight, Groff Case Still A Bellwether.”
24 July 2024
In the News
Louis Lehot Featured in Q&A on How Startups Can Prepare for IPO
Foley & Lardner LLP partner Louis Lehot features in the Q&A, "How startups can get in top shape for an IPO, according to Silicon Valley lawyer Louis Lehot," part of Business Insider's Road to IPO' series.
24 July 2024
In the News
Courtenay Brinckerhoff on Patent Cap in Drug Pricing – ‘Hard to predict if this will make a difference’
Foley & Lardner LLP partner Courtenay Brinckerhoff discussed a recent bill passed in the U.S. Senate aimed at lowering drug prices by limiting the number of patents that can be asserted in cases over biosimilars in the Law360 article, “Patent Cap In Drug Pricing Bill Seen As Having Muted Effect.”