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Legal Opinion

Witt Building Material Co. v. Barker (In Re Barker)

United States Bankruptcy Court, E.D. Tennessee

Decided July 15, 1981No. Bankruptcy No. 3-80-01224, Adv. No. 3-80-0630PublishedCited by 15 opinions

1Opinion of the Court

MEMORANDUM

CLIVE W. BARE, Bankruptcy Judge.

Section 523(a) of Title 11 of the United States Code states that a discharge under § 727 does not discharge an individual debt- or from any debt—

“(4) for fraud or defalcation while acting in a fiduciary capacity... . ”

This case presents the issue of whether the proceeds of a construction loan made to the defendant constitute trust funds by virtue of T.C.A. § 64-1140 1 so that the failure of the defendant to apply those funds to the construction project results in a nondis-chargeable debt.

I

In October 1978, the Bank of Sevierville agreed to loan the…

2Cases cited9 opinions

  1. Davis v. Aetna Acceptance Co.Supreme Court of the United States · 1934
  2. Chapman v. Forsyth & LimerickSupreme Court of the United States · 1844
  3. In the Matter of Simon Angelle, D/B/A Angelle's Lumber Co., Bankrupts. Simon Angelle v. Dr. Kenneth P. ReedCourt of Appeals for the Fifth Circuit · 1980
  4. 1 Collier bankr.cas.2d 42, Bankr. L. Rep. P 67,033 Ralph I. Selby, Trustee in Bankruptcy for the Frimberger Corporation v. Ford Motor CompanyCourt of Appeals for the Sixth Circuit · 1979
  5. In Re Carl L. Pedrazzini and Camille Pedrazzini, Bankrupt. Jack C. Runnion v. Carl L. Pedrazzini and Camille PedrazziniCourt of Appeals for the Ninth Circuit · 1981

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3Cited by15 opinions

  1. Leeb v. Guy (In Re Guy)United States Bankruptcy Court, N.D. Indiana · 1988
  2. Wilson v. Mettetal (In Re Mettetal)United States Bankruptcy Court, E.D. Tennessee · 1984
  3. Wilson v. Estes (In Re Wilson)United States Bankruptcy Court, E.D. Tennessee · 1983
  4. Littlejohn v. Englund (In Re Englund)United States Bankruptcy Court, E.D. Michigan · 1982
  5. Van Wert National Bank v. Druckemiller (In Re Druckemiller)United States Bankruptcy Court, N.D. Ohio · 1994

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