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Isn’t that what it will amount to? He’ll declare bankruptcy and everything he’s got will go to settling some fraction of these lawsuits.
by voisin 4y ago
Isn’t that what it will amount to? He’ll declare bankruptcy and everything he’s got will go to settling some fraction of these lawsuits.
- nextaccountic 4y agoNow, suppose that he tries to hide some assets to not pay what he owes. In this case he can be on the hook even after bankruptcy
- voisin 4y agoI think his greatest asset is his personality and following, and he’ll be able to monetize that post-bankruptcy. The longer he drags out the court cases, the longer he delays that, so hopefully he just gets on with him and pays out everything he has.
- jacobolus 4y agoHe was just on his live show telling viewers to send money without worry: nothing they sent now would ever go to these families because he is declaring bankruptcy. Whatever bankruptcy judge he ends up before might not be amused by such antics.
- ChicagoDave 4y agoBankruptcy doesn't allow you to hide money. The families are added to the list of creditors seeking relief and the judge will order them accordingly. The families are likely to be the top creditor and will get every penny from his estate.
- voisin 4y agoI’m not suggesting he can hide money. He gives up everything he has of bankruptcy date, and then starts fresh with a new company and the same followers and same advertisers paying him to lead those followers.
- dragonwriter 4y ago> He’ll declare bankruptcy Sure, but debts from frauds and willful and malicious harms, includong associated punitive damages, are not dischargeable in bankruptcy.
- voisin 4y agoI was not aware of this. Do you have a source?
- dragonwriter 4y ago11 USC § 523(a) generally, and for willful or malicious injury specifically 11 USC § 523(a)(6). https://www.law.cornell.edu/uscode/text/11/523 https://www.law.cornell.edu/uscode/text/11/523