BoxRec

Will re read all of this i misunderstood .

You have.

Broomhall wrote:Could Burns not just give all his cash/assets to his wife, "leave" her and just declare bankruptcy?

No mate it's too late for that he will have to pay up

spudder56 wrote:

Broomhall wrote:Could Burns not just give all his cash/assets to his wife, "leave" her and just declare bankruptcy?

No mate it's too late for that he will have to pay up

If he tried that, she'd be deemed as holding the assets "on trust" for his creditors - i.e. Frank - and they'd be used to meet his liabilities. In these situations what is usually done is to get rid of the assets before there is a judgment...

dookus wrote:

spudder56 wrote:

Broomhall wrote:Could Burns not just give all his cash/assets to his wife, "leave" her and just declare bankruptcy?

No mate it's too late for that he will have to pay up

If he tried that, she'd be deemed as holding the assets "on trust" for his creditors - i.e. Frank - and they'd be used to meet his liabilities. In these situations what is usually done is to get rid of the assets before there is a judgment...

Spot on

Ricky earned that money through his talent and years of hard work. Now that kn ob takes it all. If we're going by breaching contracts, the c___ lost his court case against Joe Calzag, and guess what ...the fighter gets swerwed again!