When a person files bankruptcy, all of his property is transferred into a theoretical pot known as the bankruptcy estate. The bankruptcy trustee can then sell items from the bankruptcy estate to pay back the creditors, subject to certain limitations and exemptions.
A 73-year-old man from Michigan recently filed bankruptcy. One of his assets at the time was his right to receive $1,000 per month for life pursuant to a Michigan Lotto "Cash for Life" jackpot that he won back in 1984. The cash payments for life became part of the bankruptcy estate and were subsequently auctioned by the trustee. The catch, however, is that as soon as the debtor dies, the payments will stop
How much would you pay to receive $1,000 per month for the rest of a 73-year-old bankruptcy debtor's life? The winning bid was $40,026. It's kind of ironic that gambling is probably what lead the old dude into bankruptcy to begin with, but then his creditors had to gamble in an attempt to get their money back. If he lives for another 20 years, the winning bidder will have hit the jackpot.
HERE is a link to a news article about the bankruptcy sale.
5 comments:
Each time I used to always check blog posts within the first hours in the break of day, because I like to get information increasingly more.
Company registration consulting firm
I have checked this link this is really important for the people to get benefit from.
https://casinoonlinevenezuela.co.ve/
cocoa injury lawyer
If you have already drawn up a suitable work plan, guidelines and a detailed list of conditions and requirements, the work will be done much easier, faster and cheaper. To order a term paper in need help with essay you need to fill in all the fields in the online application or discuss all the details of work with our managers by phone
It is very simple to order an essay, the choice of companies that are ready to take your hard-earned money with pleasure is infinitely large. However, not everyone is ready to fulfill their obligations in full, i.e. write an author's essay and at the same time comply with all requirements and design standards. The resource www.paperswriting.services/ is ready to do it at a reasonable price. You will definitely be satisfied with the result!
Post a Comment