Bankruptcy Info

$1.2 million – Petty Cash?

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When a Debtor was asked to turn over all accounts during a Chapter 11 Business Bankruptcy, he opened a safe in his home.     Wow  —— was that safe packed with cash. $1.2 million of $20 and $50 Bills filled 8 large garbage bags. The Debtor claims it was his “working petty cash fund”. The Trustee, […]

Celebrities-Bankruptcy

50 Cents May be all that will be left of Rapper 50 Cent – Filed for Bankruptcy Today

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Curtis James Jackson III, better known as 50 Cent filed for Chapter 11 Bankruptcy  protection today. The bankruptcy petition has not yet been completed.   However, court papers filed in the U. S. Bankruptcy Court in Hartford, Connection (where 50 Cent resides) indicates assets and liabilities in the range of $10 million to $50 million. Today’s […]