Amann Burnett wins $350,000 Dischargeability case in New Hampshire Bankruptcy Court
Cadence Bank vs Holman Amended Opinion doc 88 The Court conducted a trial in this matter October 16-17, 2025 on Plaintiff Cadence Bank’s complaint (ECF No. 1). Cadence Bank requests that this Court find the $350,000 debt that the Defendants guaranteed on behalf of its company non-dischargeable under 11 U.S.C. § 523(a)(2)(A), alleging that the Defendants defrauded Cadence Bank by knowingly making false representations with respect to their use of the loan proceeds. In their loan application, the Defendants represented that they intended to use the proceeds for legitimate business purposes, including remodeling a showroom and hiring additional employees. However, there is no documentary evidence to support that any of the proceeds received from the loan were used for those purposes. Instead, a report prepared by the Defendants reflects that after the loan proceeds were wired to the business bank account, over $500,000 was transferred to the Debtor’s personal checking account or used to pay personal credit card bills. Defendants testified at trial that the loan proceeds were used for their intended purpose, but given zero corroborating documentary evidence – no receipts, no invoices, no bills, no statements – this Court finds the Defendants’ testimony not credible. Accordingly, this Court will enter judgment in Plaintiff’s favor.
Click on the link above to read the Memorandum Decision. Amann Burnett, PLLC specializes in Bankruptcy Litigation and Chapter 11 matters for creditors and debtors.
