(United States Ninth Circuit) – Affirmed that Chapter 11 of the Bankruptcy Code did not permit the co-founders of several real-estate management companies to discharge a debt arising from a state-court judgment for fraud and misrepresentation. The central issue in this case was whether the individuals continued to engage in business after consummation of the Chapter 11 plan. Concluding that they did not, the Ninth Circuit held that they could not discharge the debt.