The Supreme Court will hear oral argument today in Lamar, Archer & Cofrin, LLP v. Appling (16-1215). The issue in the case centers on whether (and, if so, when) a statement concerning a specific asset can be a “statement respecting the debtor's ... financial condition” within Section 523(a)(2) of the Bankruptcy Code. For more on the case, please click here.
ABI's Bill Rochelle will be providing an analysis of the oral argument in his RDW column. Click here to subscribe.
Additionally, the Supreme Court is set to hear argument today from South Dakota, which seeks to upend a 1992 ruling that bars states from collecting sales taxes on out-of-state merchants, MorningConsult.com reported. That case dealt with North Dakota’s ability to take sales taxes for mail-order catalog businesses operating beyond state lines. It preceded the rise of online retail that now plays a central role in legal questions over state sales taxes. Read more.
