Declaring bankruptcy will not erase the $148 million in damages he owes to the Georgia election workers. Bankruptcy law does not allow for the dissolution of debts that come from a 'willful and malicious injury' inflicted on someone else.
I didn’t read the article. Im not familiar with bankruptcy law, I thought a judge would take his assets and divide them up with all his creditors. If he has 500 million in debts, I can’t imagine they would get much.
It usually helps to read the articles linked in the OP and not just look at the headline and assume things. You'll have a somewhat informed opinion if you read the articles.
This is an elite research board, remember? We must look into these things. That's the "research" part of being on an elite research board.
Some creditors are going to get more from the pie than others. It's not split evenly. It depends on what type of debt it is. Unsecured loans, mortgages, credit card debt, etc... There are laws concerning which debts can be discharged during a bankruptcy.
He won't be able to discharge any of the settlements from the defamation lawsuits against him. But they won't be getting the entire sum from their judgments. They'll go back and forth with the lawyers until a settlement is reached.
If you want to see an example of what's going to happen between Guiliani and the people who sued him for defamation, go look at what's going on with Alex Jones and the Sandy Hook parents who sued him. He did the same thing and tried to file for bankruptcy to avoid paying out.
Guess the nasty Georgia women who sued him will be crying.
That's from the article above.
I didn’t read the article. Im not familiar with bankruptcy law, I thought a judge would take his assets and divide them up with all his creditors. If he has 500 million in debts, I can’t imagine they would get much.
It usually helps to read the articles linked in the OP and not just look at the headline and assume things. You'll have a somewhat informed opinion if you read the articles.
This is an elite research board, remember? We must look into these things. That's the "research" part of being on an elite research board.
Some creditors are going to get more from the pie than others. It's not split evenly. It depends on what type of debt it is. Unsecured loans, mortgages, credit card debt, etc... There are laws concerning which debts can be discharged during a bankruptcy.
He won't be able to discharge any of the settlements from the defamation lawsuits against him. But they won't be getting the entire sum from their judgments. They'll go back and forth with the lawyers until a settlement is reached.
If you want to see an example of what's going to happen between Guiliani and the people who sued him for defamation, go look at what's going on with Alex Jones and the Sandy Hook parents who sued him. He did the same thing and tried to file for bankruptcy to avoid paying out.
It didn't work.
Not getting the money should be seen as a blessing for them.
Imagine that kinda money in the hood? They'll be safer in Gitmo.