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Whether The Doctrine Of Judicial Estoppel Applies If The Debtor Fails To List A Lawsuit In His Or Her Bankruptcy Schedules, Joshua Nadelbach

Bankruptcy Research Library

(Excerpt)

Many different tactics are used by both plaintiffs and defendants to try and gain an upper hand in court proceedings. One particular scheme occurs when parties take an inconsistent position with one they successfully asserted in an earlier proceeding. The idea of the scheme is to be successful initially and then to contradict the position previously taken based on the need of the moment. To combat that particular ploy, the courts developed the doctrine of judicial estoppel.

Judicial estoppel generally refers to “judicially-imposed limitations on litigants who would assert two irreconcilable positions in successive litigations.” The purpose of judicial …

Health Savings Accounts And The Bankruptcy Estate, Michelle Nicotera

Bankruptcy Research Library

(Excerpt)

Section 541 of the Bankruptcy Code defines “property of the estate” to include “all legal or equitable interests of the debtor in property as of the commencement of the estate.” Consistent with a policy of expanding the bankruptcy estate, the property listed under section 541 is available to the trustee to satisfy the estate’s creditors once a petition has been filed. This aggregation provides the debtor an opportunity for a fresh start and ensures effective distribution among creditors and thus “promotes the fundamental purpose of the Bankruptcy Code.” Although section 541(a) defines “property of the estate” broadly, section 541(b) …