Debtor Was Fiduciary for Gas Sales
By Deborah Elkins
Published: January 12, 2012
Tags: Bankruptcy, Judge T.S. Ellis III, U.S. District Court - Eastern District
An Alexandria U.S. District Court says a bankruptcy court erred in deciding a convenience store operator’s debt to a petroleum supplier for gasoline was dischargeable; the parties’ agreement on gas sales meant debtor was acting in a fiduciary capacity when he possessed the gas sales proceeds.
The bankruptcy court found that because the parties’ Gasoline Services ...
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