.jpg)
Dissolution Judgment includes "breach of fiduciary duty" - is this excepted from discharge under 523(a)(4) in a Chapter
523(a)(4) is more narrow than simple "breach of fiduciary duty." There must defalcation - which can be as little as a mere failure to account - or fraud in a fiduciary capacity. Good luck.
>
> 2102 just means it continues to exist during that time period. If parties
> separate but do not divorce, the fiduciary duty exists until the division of
> property.
>
>
>
> If you have any questions or concerns please contact me.
>
>
>
> Pat
>
>
>
> Patrick T. Green
>
> Attorney at Law
>
> 1010 E. Union St. Suite 206
>
> Pasadena, CA 91106
>
> Tel: 626-449-8433
>
> Fax: 626-449-0565
>
> Email: pat@...
>
>
>
> Holly Roark
> Sent: Tuesday, December 06, 2011 5:48 PM
> To: Strictly Bankruptcy Issues; cdcbaa@yahoogroups.com
> Subject: [cdcbaa] Re: Dissolution Judgment includes "breach of fiduciary
> duty" - is this excepted from discharge under 523(a)(4) in a Chapter 13? [1
> Attachment]
>
>
>
>
>
> [Attachment(s) from Holly Roark included below]
>
> In re Stanifer (attached), a 9th Cir. BAP case holds that under Cal. Fam.
> Code section 721, spouses are fiduciaries within the meaning of 523(a)(4).
>
>
>
> However, I am curious about some of the language of Cal. Fam. Code section
> 2102 which states that the fiduciary relationship exists "from the date of
> separation to the date of the distribution of the community or
> quasi-community asset or liability in question . . . ." Does this mean,
> then, that the fiduciary relationship does not exist *during* the marriage?
> I don't understand. If that's the case, then if the dissolution order says
> that the spouse expended $200,000 community funds during marriage, and
> $150,000 in community funds AFTER separation, does that mean that there is
> only a breach of fiduciary duty as to the spending of the funds that
> occurred after separation? I am sure that doesn't make sense. Does Fam
> Code section 721 apply to the fiduciary relationship "during marriage",
> while 2102 applies to the fiduciary relationship after separation? Any
> family law attorneys out there who can help me read this statute? Thanks.
>
> Holly Roark
>
> On Tue, Dec 6, 2011 at 3:22 PM, Holly Roark wrote:
>
> Has anyone dealt with this issue: Debtor has a judgment against him in
> family court where he is ordered to pay "equalization payments" of $350K to
> the ex-spouse. In the paragraph above, the Order says that the court finds
> that the debtor breached his fiduciary duty to the ex-spouse to the extent
> of $260,000. 523(a)(4) says that breach of fiduciary duty is excepted from
> discharge, and 1328(a)(2) includes (a)(4) as an exception to discharge in a
> chapter 13. Question: is "breach of fiduciary duty" as referred to in
> California family law the same thing that the Code contemplates as a "breach
> of fiduciary duty" in these Code sections? I am happy to do the case
> research, but if anyone who has previously dealt with this issue can point
> me in the right direction to start me off, I would appreciate it.
>
> --
>
> Holly Roark
>
> holly@...
>
> www.roarklawoffices.com
>
> Central District of California
>
> Consumer Bankruptcy Attorney
>
> 1875 Century Park East, Suite 600
>
> Los Angeles, CA 90067
>
> T (310) 553-2600
>
> F (310) 553-2601
>
>
>
>
>
>
>
>
> --
>
> Holly Roark
>
> holly@...
>
> www.roarklawoffices.com
>
> Central District of California
>
> Consumer Bankruptcy Attorney
>
> 1875 Century Park East, Suite 600
>
> Los Angeles, CA 90067
>
> T (310) 553-2600
>
> F (310) 553-2601
>
The post was migrated from Yahoo.