Mount Vernon Fire Insurance v. Smith

E. GORDON WEST, District Judge:

This case is before the Court on plaintiff’s application for review of an order of the Bankruptcy Judge whereby he discharged a $132,970.40 debt owed to plaintiff. The bankrupt, Marshall Gaither Smith, was engaged as an agent or broker in the insurance business. He sought and received a brokerage contract with the plaintiff insurance company. In connection with this contract the bankrupt represented himself as being president and principal owner of the Louisiana Brokers Exchange of Baton Rouge, and as “principal owner” he executed a personal guaranty covering…