Originally published by Kenneth Kan.
Depending on who you talk to, some would say that our economy has recovered or improved since the recent recession. However, there are many individuals—in particular, homeowners—who are in financial difficulty and have no option but to file for bankruptcy. If you are going through the bankruptcy process, and you have an insurance claim pending, it is imperative you list or disclose the claim in the bankruptcy petition or amend if you have to. Here is the reason why.
In California and in most other jurisdictions, there is a legal doctrine called judicial estoppel. Several years ago my colleague, Shaun Marker, blogged about a case in Florida discussing judicial estoppel. This doctrine precludes one from taking inconsistent positions in legal or administrative proceedings and is designed to protect the integrity of the judicial process.1 The doctrine is applied when:
(1) the same party has taken two positions; (2) the positions were taken in judicial or quasi-judicial…
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