Chapter 7 Debtor Is Not Fiduciary, 9th Circuit Rules
Mealey's (August 10, 2015, 10:49 AM EDT) -- SAN FRANCISCO — A Chapter 7 debtor was not a “fiduciary” under the Employee Retirement Income Security Act or the Bankruptcy Code when he failed to make contractually required contributions to an employee benefits trust, the Ninth Circuit U.S. Court of Appeals ruled July 30 (Gregory Bos v. Board of Trustees, et al., No. 13-15604, 9th Cir.; 2015 U.S. App. LEXIS 13272).
(Opinion available. Document #54-150812-035Z.)
The Ninth Circuit agreed with the Sixth and 10th Circuits in declining to recognize an exception to the rule that...