Bankr. W.D.N.C.: Latigo Investments v. Watkins- Substantial Certainty of Harm under 11 U.S.C. § 523(a)(6)

Summary: Watkins provided a letter to Latigo Investments and the other plaintiffs, that he owned RDS Diversity Capital Corp ("RDS"), which had obtained $30 million in financing from Waddell and Reed, Inc., for the purchase of an ownership interest in MB2, a NASCAR team.   RDS had never, in fact, been organized, did not have the ability to close the financing with Waddell and Reed, and had no ability to obtain other financing. Accordingly, the bankruptcy court found that Watkins had acted "with substantial certainty that harm would result or a subjective motive to cause harm." In re: Parks, 2003 WL 22989684 (4th Cir. 2003) and his obligations to the Plaintiffs were non-dischargeable pursuant to 11 U.S.C. § 523(a)(6) For a copy of the opinion, please see: Latigo Investments v. Watkins- Substantial Certainty of Harm under 11 U.S.C. § 523(a)(6).pdf