9th Circ. Says Housing Loan Is Business Debt In Man’s Ch. 7 – Law360

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Law360, New York (October 16, 2017, 8:47 PM EDT) -- The Ninth Circuit on Monday found a $500,000 mortgage provided by an employer to induce a man to relocate to a new job is not consumer debt for Chapter 7 purposes.

The panel voted 2-1 to uphold a bankruptcy court ruling that Colorado resort operator Aspen Skiing Co. extended the loan offer to Paul Cherrett for the primary purpose of inducing him to take a job at its hotel and Cherrett accepted in order to be able to afford to move and take the job, making...

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