BoxRec

Read today 50 declared bankruptcy, that might be the last we see of him in boxing.

Evander wrote:Read today 50 declared bankruptcy, that might be the last we see of him in boxing.

I read it too but most people that are rich declare bankruptcy to keep from having to give up any of their money (liquid), if you look at what 50 is worth it's much more than the amount he's being sued for so there's no way in the world he could convince anyone that he can't afford to pay that minor amount in comparison to what he is worth.

Rich people are greedy but they are even more stingy than anything else.

IMO you should only be allowed to declare bankruptcy if you dont have the money liquid (or close to it) to pay your legal debts. If you have it, and then some, by law you should be FORCED to pay it, or go to prison. After all, taxpayer dollars were spent on this case in a court of law. Isnt it rich that taxpayers have to pay out of pocket to support cases such as this but the losing defendant doesnt have to?

Absolutely ridiculous.

diddy wrote:IMO you should only be allowed to declare bankruptcy if you dont have the money liquid (or close to it) to pay your legal debts. If you have it, and then some, by law you should be FORCED to pay it, or go to prison. After all, taxpayer dollars were spent on this case in a court of law. Isnt it rich that taxpayers have to pay out of pocket to support cases such as this but the losing defendant doesnt have to?

Absolutely ridiculous.

I agree 100%. I am grateful to live in possible the best country in the world, but our system is seriously flawed.

chapter 11 restructures debt repayment so businesses can continue operating.
it doesn't waive the debt. he is still going to repay what he owes, just on a different
schedule.

KBB wrote:

Evander wrote:Read today 50 declared bankruptcy, that might be the last we see of him in boxing.

if you look at what 50 is worth it's much more than the amount he's being sued for so there's no way in the world he could convince anyone that he can't afford to pay that minor amount in comparison to what he is worth.

Have to admit that did cross my mind just based of his potential future earnings.

It never ceases to amaze me how people who have made mega bucks can end up in such financial ruts. Boxers of course just about topping the list.

I thought Fiddy just raked in $1.6 million betting on Floyd for the Pac fight?

Easy come, easy go.

Badhusker wrote:I thought Fiddy just raked in $1.6 million betting on Floyd for the Pac fight?

Easy come, easy go.

This is just a "buy time" move so he can make sure some chicken neck who did him AND Rick Ross can't play "Gold Digger" on him.

https://www.youtube.com/watch?v=6vwNcNOTVzY