A U.S. Supreme Court ruling Thursday that rejected the Fifth Circuit's "overly rigid" judicial estoppel rule gives lower courts more latitude to decide whether a debtor's failure to disclose a claim in bankruptcy was a mistake, but it leaves open numerous questions about the duties of consumer debtors, experts told Law360.
One bankrupt life sciences firm sought sanctions against an investor and the U.S. trustee sought to liquidate another one, while a medical transport company fought an attorney fee bid and creditors blasted the liquidation plan proposed for a Nevada mining company.
The nonprofit that organizes the annual LGBTQ Pride festival in Phoenix filed for bankruptcy protection on the eve of Pride Month, becoming the latest casualty of a political climate that the institution and other advocacy groups argue has put a target on the backs of LGBTQ-focused nonprofits.