Wright

Olympic Coast Investment, Inc. v. Wright

Good Law
340 F. App'x 422
United States Court of Appeals for the Ninth CircuitAugust 10, 2009No. 08-35122California404 words

Opinion

Lead Opinion

MEMORANDUM **

Olympic Coast Investment, Inc. (OCI) appeals an order of the district court, which affirmed the bankruptcy court’s decision to discharge the debts of Lawrence and Ann Marie Wright. We have jurisdiction pursuant to 28 U.S.C. § 158 (d), and affirm.

We agree with OCI that the Wrights did have an affirmative obligation to create adequate documentation that would allow their creditors to ascertain their financial condition. See 11 U.S.C. § 727 (a)(3); Caneva v. Sun Cmtys. Operating Ltd. P’ship (In re Caneva), 550 F.3d 755, 764 (9th Cir.2008) (“[T]he statute imposes an affirmative duty on the debtor to keep and preserve recorded information that will allow his creditors to ascertain his financial condition and business transactions. A debtor who has admitted to owning businesses for which he kept no recorded information and to transferring a substantial sum of money without retaining any documentation has not kept or preserved information within the meaning of the statute.”); Cox v. Lansdowne (In re Cox), 904 F.2d 1399, 1402 (9th Cir.1990) (Cox I) (affirming the bankruptcy court’s finding of inadequate documentation where the debtors had no ledgers, books, or other…

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