Bankruptcy Update

Bankruptcy Plans Go Up in Smoke: Marijuana Grower Denied Relief

, The Legal Intelligencer

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The ability to obtain a discharge of a person's debts in bankruptcy—either through a reorganization of his or her affairs or liquidation proceeding administered by a court-appointed trustee—is a fundamental benefit of filing for bankruptcy. When a debtor's prepetition actions involve fraud, concealment, or other examples of a lack of good faith, bankruptcy courts dismiss such "bad faith" filings, thereby denying debtors the protections and benefits of the federal bankruptcy law. Usually bad faith involves fraud, concealment, or other types of white-collar criminal activity. Debts arising from other types of tortious conduct are also excepted from being discharged.

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