New Hampshire Insurance Co. v. Jones (In Re Jones)

MEMORANDUM

JOHN C. COOK, Bankruptcy Judge.

This adversary proceeding is before the court upon the plaintiffs’ complaint seeking an order declaring nondischargeable under § 523(a)(4) a certain obligation owed by the defendant to the plaintiffs. The parties submitted this proceeding for decision upon stipulated facts which are set forth as follows.

I

The plaintiffs entered into an Agency Agreement with O.W. Hudson Agency, Inc. (herein the “Agency”) dated December 11, 1978. The defendant, James Lawrence Jones, was the president, sole stockholder, and sole director of the agency. Mr. Jones was the…