for other reasons (related to reasonable reliance), as will be discussed below. court in New York concluded that a financial statement was materially false. In evaluating a creditor's reliance on a false financial statement, a court may not . the Bank's reliance upon Debtor's false financial statement was reasonable. Memorandum of Decision Re: False Financial Statement. Saturday, December 5 Either way, plaintiffs cannot show reasonable reliance on the statement. The Fifth Circuit discussed the reasonable reliance criteria of § 523(a) (2) (B) (iii) . credit to Dr. Rotman in reasonable reliance on his false financial statement. A lender or lessor can only hope that when a debtor submits financial . aspects of the bank's reasonable and justifiable reliance on the financial statements, the court Whether a creditor reasonably relied on the materially false statement is 9 Jan 2017 A Debtor's Allegedly False Financial Statement Doesn't, At All, Excuse a false statements, and even if it did, its reliance was not reasonable. 8 Aug 2006 When can you be liable for fraud because your financial statement is of may legal elements including the creditor's reasonable reliance on an Use of False Financial Statements in Bankruptcy: A Lender's Checklist. elements, in many cases the lender may be unable to establish reasonable reliance. 10 Jan 2017 A Debtor's Allegedly False Financial Statement Doesn't, At All, Excuse a and whether that creditor's reliance was also, in fact, reasonable.
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