Children sue father in death of mother in Woodside
Original post made on Apr 19, 2012
Read the full story here Web Link posted Thursday, April 19, 2012, 9:03 AM
on Apr 19, 2012 at 11:04 am
If he's deeply in debt, what's the point of suing him?
on Apr 19, 2012 at 4:41 pm
Let's say he's got $10M in assets and $20M in liabilities. He declares bankruptcy and his creditors get paid off at 50%. Now, suppose his kids win the suit and are awarded $20M, half the new total of his liabilities. They collect $5M (1/2 his assets) and his creditors get the rest, now 25% of what they're owed.
on Apr 19, 2012 at 8:01 pm
The children: Are they minors?
This is very strange.