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In In re Ferreira, No. 18-5264, 2019 Bankr. LEXIS 3342, at *6-8 (Bankr. N.D. Ga. Oct. 24, 2019), the Bankruptcy Court found no fiduciary duty between a floorplan lender and dealer. A number of courts have considered whether contracts in a floor planning relationship create such a technical trust. As the bankruptcy court explained in VW Credit, Inc. v. Salim… Read More

In In re: Edwards, No. 14–50717, 2017 WL 3037451 (W.D. Ky, July 17, 2017), Judge Stout found that a marine retailer's conversion of funds out-of-trust from the sale of collateral rendered his debt to his floorpan lender non-dischargeable. Taking these points together, this Court has no trouble finding that Mr. Edwards both read the documents he signed, and was aware of CFSB's… Read More

In In re: Moroni (Ford Motor Credit Company v. Moroni), 2017 WL 436148, at *11 (Bkrtcy.N.D.Ill., 2017), Judge Cassling found that a car dealer's principals could not use the bankruptcy laws to discharge their debt to their floorplan lender. Some courts have held that “a debtor did not have the necessary fraudulent intent when the debtor used money in violation… Read More

In In re Trujillo, 2014 WL 3051319 (Bkrtcy.D.N.M. 2014), Judge Jacobvitz found that a debtor’s giving an RV to a third party in derogation of the lender’s rights did not constitute willful misconduct so as to render the debt non-dischargeable because the debtor did not profit from the arrangement. Mountain America correctly points out that Mr. Trujillo violated the Loan… Read More

In In re Barlaam, 2012 WL 3288725 (Bkrtcy.C.D.Cal. 2012), Judge Mund found triable issues of fact regarding a creditor’s position that the bankruptcy debtor’s obligations were non-dischargeable on a $305,000 Rolls-Royce and $100,000 BMW.  The debtor had claimed income in his credit application(s) of $720,000 and $530,000, but, in the bankruptcy proceedings, claimed that he had virtually no income during… Read More