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James Edward Lewis's Legal Cases (2)

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Bankruptcy and debt

CQM, Inc. et al v. VandenBush (WIEB, Wis. 2020) LexisNexis #0320-063

Feb 07, 2020

OUTCOME: Summary Judgment for the Debtor/Defendant

The plaintiffs held a sizeable judgment for fraud committed by the debtor’s ex-wife. The plaintiffs settled their fraud case with the ex-wife, a former employee who pled no contest, along with the debt ... or who agreed at the time that the judgment could be satisfied from marital assets. But a little over a year later, the debtor and the fraudster divorced, and under their marital settlement agreement, the ex-wife fraudster retained all liability for the state court judgment. The debtor later filed for bankruptcy. This prompted the plaintiffs to file an adversary case, seeking to collect their $772,000 judgment against the debtor from “marital property” via a non-dischargeability claim. But because there is no dispute that the debtor did not commit the underlying fraud, and post-divorce there can be no “marital assets,” the Code offers no relief to these plaintiffs.

Bankruptcy and debt

CQM, Inc. and Ambrosious Development, LLC, v. Darrell Raifeld VandenBush,

Feb 07, 2020

OUTCOME: Debtor succesfully defended a bankruptcy adversary proceeding and received a discharge

There is no marital property when there is no marriage. Here, the plaintiffs held a sizeable judgment for fraud committed by the debtor’s ex-wife. The plaintiffs settled their fraud case with the ex-w ... ife, a former employee who pled no contest, along with the debtor who agreed at the time that the judgment could be satisfied from marital assets. But a little over a year later, the debtor and the fraudster divorced, and under their marital settlement agreement, the ex-wife fraudster retained all liability for the state court judgment. The debtor later filed for bankruptcy. This unsatisfying course of events prompted the plaintiffs to file an adversary case, seeking to collect their $772,000 judgment against the debtor from “marital property” via a non-dischargeability claim. But because there is no dispute that the debtor did not commit the underlying fraud, and post-divorce there can be no “marital assets,” the Code offers no relief to these plaintiffs.