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John Loughnane Quoted on Causes for Dismissal of Chapter 7 Bankruptcy Case in Mass Lawyers Weekly

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John Loughnane, a partner in Nutter’s Corporate and Transactions Department, was recently quoted in Mass Lawyers Weekly on causes for dismissal of a Chapter 7 bankruptcy case. The article, entitled “Bad faith not cause for dismissal of chapter seven bankruptcy case, outlined John’s position that the plaintiff’s lawyer took a valid shot at arguing §707(a) includes bad faith, given the conflicting precedent and the sympathetic position of his clients. According to John, “The frustration of the plaintiffs is absolutely understandable. They were wronged by conduct that has economically harmed them, and they would like to be compensated.” John also pointed out, “How destitute do we want to make people? By waiving [the defendant’s] discharge, the debtor paid a big price. If the debtor comes into money in the future, his creditors could still come after him under state law. But as to whether the debtor should be dispossessed of his house, Bailey [the judge] was correct in deciding that ‘you can’t get blood from a stone — as angry as you are at the stone.’ ”

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