The Supreme Court ruled Wednesday that a financially troubled small-business man gave up an important right under the federal bankruptcy code because he failed to disclose all of his assets as the law requires. In a 5-4 decision, the Court said Robert Marrama could not convert his bankruptcy case from one chapter of the code to another, as the law ordinarily allows. The reason, the Court said, stemmed from Marrama's failure to disclose a vacation home placed in a trust.
February 22, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The Supreme Court ruled Wednesday that a financially troubled small-business man gave up an important right under the federal bankruptcy code because he failed to disclose all of his assets as the law requires.
In a 5-4 decision, the Court said Robert Marrama of Gloucester, Mass., could not convert his bankruptcy case from one chapter of the code to another, as the law ordinarily allows.
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