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- Title
LIST IT OR LOSE IT: THE APPLICATION OF JUDICIAL ESTOPPEL WHEN A DEBTOR FAILS TO LIST A CLAIM.
- Abstract
This Comment addresses the application of judicial estoppel to dismiss a debtor's civil or administrative claim when the debtor fails to list his claim on the required schedule. Part I of this Comment analyzes the general concept of equity and the principles underlying judicial estoppel. Part Il analyzes equity andjudicial estoppel through the lens ofthe bankruptcy system. Part III presents my proposed test to determine when it is appropriate for courts to invoke judicial estoppel to dismiss a debtor's undisclosed claim when the trustee has decided to abandon it atter it has been discovered. This test considers four factors: (1) the legal sophistication of the debtor; (2) the events prompting disclosure: (3) whether there was any showing of inadvertence or attempts to disclose the claim: and (4) the reasons underlying the decisionlbr the trustee to abandon the claim once discovered. The Comment concludes that a strict approach, as advocated by the proposed test, is the best way to protect the integrity and promote the efficientfunctioning ofthe bankruptcy system.
- Subjects
UNITED States; JUDICIAL estoppel; DEBTOR &; creditor -- Lawsuits &; claims; BANKRUPTCY; PROSECUTION; LEGAL claims
- Publication
Emory Bankruptcy Developments Journal, 2021, Vol 37, Issue 2, p367
- ISSN
0890-7862
- Publication type
Article