Assets And Property In Bankruptcy

My community was recently rocked by two businesses who were suddenly in Chapter 7 bankruptcy with unhappy clients and customers.   Chapter 7 bankruptcy for business is a very different process than when people file for

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As our readers may recall, over the years, the members of this network have reported on various celebrity bankruptcy filings and the need for absolute truth in a debtor’s pleadings.

The doctrine of judicial estoppel reared its ugly head again, preventing a chapter 13 debtor from suing his former employer for racial discrimination.  The U.S. Court of Appeals, Eighth Circuit, ruled that a chapter 13 debtor should have amended his bankruptcy documents to list the lawsuit, even though the debtor suffered the alleged discrimination three years into a five year long bankruptcy reorganization case.  Jones v. Bob Evans Farms, No 15-2068 (8th Cir. Jan. 26, 2016).