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In Re: Knight-Celotex, LLC et al.,

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ARGUED MAY 24, 2012

Before CUDAHY, KANNE, and HAMILTON, Circuit Judges.

Using a judicial estoppel theory, debtor-appellant James Knight attempts to turn a harmless and seemingly inadvertent failure to disclose an adverse interest in a bankruptcy proceeding into a potential multimillion dollar windfall. He appeals from an order in the jointly administered bankruptcy cases of Knight-Celotex, LLC and Knight Industries I, LLC (collectively, the “Companies”). That order permitted the Companies’ chapter 7 bankruptcy trustee to assign to Bank of America certain causes of action that the Companies’ estate held against Knight as an individual. At the time of the assignment, the same trustee, Barry Chatz, was also serving as the chapter 7 trustee in Knight’s own bankruptcy case, and the law firm of Freeborn & Peters LLP represented trustee Chatz in his administration of both the Companies’ bankruptcy estate and Knight’s individual estate.

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