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Bankruptcy Assets – Tennis Star Trophies

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Bankruptcy Assets – Tennis Star Trophies

Bankruptcy assets

Written and Verified by Ralph A. Ferro, Jr., Esq.

When a tennis star filed bankruptcy, his assets included trophies and other items.    There are many types of assets that are part of a bankruptcy petition.    Bankruptcy assets include for example:   real estate, money in bank accounts, jewelry, clothing, furniture, etc.    Trophies and personal souvenirs are also assets owned by a debtor.    

When German tennis star Boris Becker filed bankruptcy, his trophies were auctioned to partially clear the champion’s debts.

Boris Becker is the  youngest winner in Wimbledon’s history.   He claimed the first of three titles at age 17.   Boris Becker won 49 titles and over 20 million euros in prize money.   This is quite an impressive record.

However, at age 51 years old this champion tennis star declared bankruptcy.   

As part of Mr. Becker’s bankruptcy, 82 items including medals, cups, watches and photographs were sold.   The proceeds were used to pay his creditors to satisfy some of his debts.    When he filed bankruptcy, his assets from his tennis career became part of the bankruptcy estate.

The six-time Grand Slam winner is nicknamed “Boom Boom” Becker for his devastating serve.   He focuses on his tennis activities, particularly commentating, as he attempts to use his fame to wipe out his debts.

There are some exempt assets in bankruptcy.    If you are considering filing bankruptcy, contact me.   I will advise you what assets are exempt so you have a clear understanding of bankruptcy protection.   

Even celebrities face economic and financial downturns in their lives.    Remember you are not alone when you face bankruptcy.   I am here to help you and provide expert advice in the legal field of bankruptcy.   I specialize in New Jersey bankruptcy law.     

Contact me so I can help you and provide you with a free bankruptcy consultation.