Amicus Curiae Brief, Bullock v. Bankchampaign, N.A., No. 11-1518 (US 2013)

Dechert’s amicus brief supported Petitioner in this case, which presented the question what degree of debtor misconduct constitutes a “defalcation” under section 523(a)(4) of the Bankruptcy Code such that that debtor may be denied a discharge in bankruptcy from a debt arising from the misconduct, and specifically, does it include actions that resulted in no loss of trust property. This brief argued that the correct standard is the “extreme recklessness” standard applied by the Court of Appeals for the Second Circuit in Denton v. Hyman (In re Hyman), 502 F.3d 61, 68 (2d Cir. 2007). Dechert attorneys G. Eric Brunstad, Jr. (counsel of record), Collin O’Connor Udell, and Matthew J. Delude filed the amicus curiae brief in support of Petitioner.