Peter Voutsas intended to sue his former partners for fraud after their company was dissolved back in May of 1996. But some three years later, when he filed for bankruptcy, Peter neglected to list that claim as an "asset."
When he finally got around to bringing a case, the New York County Supreme Court dismissed the litigation. And, on appeal, the Appellate Division, First Department, agreed that by not disclosing the dispute within the bankruptcy context, Peter had forfeited any right to file a lawsuit.
Was he on a hit list?
To view a copy of the Appellate Division's decision, please use this link: Voutsas v. Soper