The panel affirmed the district court’s order affirming the judgment of the bankruptcy court in an adversary proceeding regarding the dischargeability in bankruptcy of a construction industry contractor’s “withdrawal liability” to a pension fund following the expiration of the collective bargaining agreement under which the fund was administered.
The Court found that the debt did not qualify as a debt created by a defalcation by a fiduciary rather, it was a statutory obligation and was different from contractual obligations under the collective bargaining agreement.
Carpenters Trust Fund v. Moxley
