Ward Family Foundation v. Arnette (In Re Arnette)

MEMORANDUM OPINION

BARBARA J. HOUSER, Bankruptcy Judge.

The Court tried this adversary proceeding (the “Adversary”) on April 13 through 15, and April 20, 2011. The last of the post-trial briefs was submitted on April 28, 2011, following which the Court took the matter under advisement.

Plaintiff, The Ward Family Foundation (the “Foundation”), is a non-profit corporation that uses the income earned on its investments to support a number of charitable causes. Defendant, Christopher Adam Arnette (“Arnette”), is an individual resident of Dallas, Texas, who filed for relief under chapter 7 of the…