Bullock v. BankChampaign, N.A.

Holding: The term “defalcation” in the Bankruptcy Code includes a culpable state of mind requirement involving knowledge of, or gross recklessness in respect to, the improper nature of the fiduciary behavior.

 

JudgmentVacated and remanded, 9-0, in an opinion by Justice Breyer on May 13, 2013.

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