Sherman v. Securities & Exchange Commission (In Re Sherman)
Court of Appeals for the Ninth Circuit
1Opinion of the Court
BERZON, Circuit Judge.
Richard Sherman (Sherman) was the attorney for several defendants in an enforcement action brought by the Securities and Exchange Commission (SEC) and in other actions in which those defendants were parties. Sherman and his wife, Andrea Sherman, filed a Chapter 7 bankruptcy petition. The SEC brought a motion to dismiss the Shermans’ Chapter 7 bankruptcy petition pursuant to 11 U.S.C. § 707(a), maintaining that there was “cause” for dismissal. Although the bankruptcy court denied the SEC’s motion, the district court reversed.
We are presented with three questions on…
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