Practice point: The failure to schedule a legal claim as an asset in a bankruptcy proceeding deprives the debtor of standing to raise it in a subsequent legal action.
Student note: Neither ignorance of the law nor inadvertent mistake excuses a plaintiff's failure to list such a claim as a potential asset in the petition.
Case: Hutchinson v. Chana Weller, DDS, PLLC, NY Slip Op 01875 (1st Dept. 2012).
Here is the decision.
Tomorrow’s issue: Account stated.
