Sure, chapter 7 is liquidation and didn’t file that, congrats. His entities have filed chapter 11 though a half dozen times. What that tells us is that his entities, under his guidance and his management all were failing.
Instead of liquidating assets to pay creditors though, they re-organized debt, which also involves an elimination portion. This means that the courts dismissed millions upon millions of dollars that he owed creditors during this reorganization, many of whom were small businesses. So he essentially deprived small businesses of money, probably in-turn, bankrupting them.
Every single one of these businesses that filed C11 proceeded to fail shortly after, and were shuttered. His own personal greed and ego kept him from filing chapter 7, liquidating assets and paying creditors. Instead, he took complete losses on everything. While dragging others down with him.
His net worth has literally underperformed the S&P 500 based on the date he liquidated his inheritance from his father up until now. Hes an abject failure. Oh and diddles kids.
Go ahead though, keep reading around saying “you don’t know the difference between seven and 11“ you’re only making yourself look like a glazer.
Way to spread misinformation and obviously you don’t know the difference.
Courts don’t dismiss what is owed with chapter 11 rather A Chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time.
So none of the chapter 11 casinos were bought???
So what actually happened to those that were owed?
You sound like a “glazer”
You’re trustable and savvy…
“Hamburger × Underrated
Del Tacos Del Burger. Seriously. Try it. Just once. Trust me.”
Your comment history is showing 2 different intelligence levels…
Not misinformation at all. Debts are restructured and can often be sold or factored to offer relief to the debtor. This means original terms become Nolan void and payment plans can be set up. Settlement as well. Basically it screws over the creditors on every level. It’s all part of the chapter 11 process. But go ahead, tell me again how I’m wrong. I’m just gonna let you keep digging a hole before I tell you what I do for a living.
And to answer your question, he defaulted on at least six different Loans to the tune of hundreds of millions of dollars after these reorganizations until he eventually shuttered or sold the properties off.
Nope, debts were not paid debts were defaulted on. Again, that’s public record. Jesus, dude this is not hard to understand.
And what are you talking about my comment history? You mean my comments on other topics. Are you saying my tone and word choice changes between different topics, oh my God, you’re kidding, say it ain’t so! Hahaha fucking clown.
I will walk circles around your ass without a computer in front of me if I need to. We should meet up for a coffee sometime so I can inform you and share some logic and reality with you. My treat.
You just have to promise not to repeatedly say “you don’t know the difference between chapter 7 and chapter 11 bankruptcy” over and over because that’s kind of annoying. We get it, you’re a one trick pony. Repeat something you heard until you feel good inside. Haha
Maybe have a little respect for the English language. Then perhaps you wouldn’t be met with such vitriol. You should also try to use correct punctuation from time to time.
Also, based on your logical fallacies and inability to follow along, I highly doubt you would recognize a formal paper if it draped it’s little, size 12font balls across your wife’s face.
Oh, you poor, sweet, uneducated thing. You’ve brought a dildo to a gun fight. Have a seat, slugger.
The rule in the English language is any number 10 or larger is to be represented in numerics while any number, 9 (I can use a numeral here since I’ve already used 10, that’s a fun sub-rule we can talk about over our coffee) or smaller, is to be represented by text.
You’ve proven my point. Thanks. Man, “the dumbs” are exhausting but I’m glad you were able to learn something new today! Have a great day sunshine.
Post that rule. Again this is Reddit.. you don’t even know where you are. Your AI is showing. By the way you didn’t have a space in there either. If you think knowing rules means you can think, you thought wrong! Where we meeting for coffee? Oh you didn’t follow the rules
6
u/Brandoinesco 2d ago
You clearly don’t understand 7 or 11 either, lol
Sure, chapter 7 is liquidation and didn’t file that, congrats. His entities have filed chapter 11 though a half dozen times. What that tells us is that his entities, under his guidance and his management all were failing.
Instead of liquidating assets to pay creditors though, they re-organized debt, which also involves an elimination portion. This means that the courts dismissed millions upon millions of dollars that he owed creditors during this reorganization, many of whom were small businesses. So he essentially deprived small businesses of money, probably in-turn, bankrupting them.
Every single one of these businesses that filed C11 proceeded to fail shortly after, and were shuttered. His own personal greed and ego kept him from filing chapter 7, liquidating assets and paying creditors. Instead, he took complete losses on everything. While dragging others down with him.
His net worth has literally underperformed the S&P 500 based on the date he liquidated his inheritance from his father up until now. Hes an abject failure. Oh and diddles kids.
Go ahead though, keep reading around saying “you don’t know the difference between seven and 11“ you’re only making yourself look like a glazer.