Bullock v. Bankchampaign - Supreme Court defines state of mind for "defalcation" for purposes of non dischargeability

Earlier this week, the Supreme Court held that the term “defalcation” in the Bankruptcy Code (for purposes of non-dischargeability) includes a culpable state of mind requirement involving knowledge of, or gross recklessness in respect to, the improper nature of the fiduciary behavior.   Previously, it was somewhat unclear as to what state of mind was required to prove defalcation of funds in a fiduciary capacity.
 
SCOTUS - Bullock v. Bankchampaign