Quote:
Originally Posted by Weitz
So he just pisses away all his money for no reason at all? Signs a smaller deal and then gets that taken by his debtors?
I'm trying to understand why this would ever happen and be a loophole. He would be done with hockey to get away from the debtors if they terminated the deal.
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It kind of depends on what the bankruptcy rules are and how much creditors can take, but the taxes on $700k are probably less substantial than $7 million. It might be the difference between having some money and no money left over at the end of the day.