Comparison:
‘The old phrase is that bankruptcy is like being in a fishbowl,‘ Hampson said.
Insight offered by U of Florida law professor Christopher D. Hampson about the visibility made of financial records when a defendant chooses to go into bankruptcy proceedings.
Context:
‘The old phrase is that bankruptcy is like being in a fishbowl,‘ Hampson said. ‘For someone like Trump, that’s uncomfortable in a couple of ways. You have to say what your assets are. He’s been resistant to that in other contexts. You also open up other liability if you’re not truthful.‘
Beyond that, it’s not clear that bankruptcy would help Trump escape the judgments against him. Debts can’t be discharged, or removed, when they involve fraud, and defamation judgments like the ones in the Carroll case are sometimes not dischargeable.
Citation:
Graham, David A. “Trump’s Money Problems Are Very Real and Very Bad.“ The Atlantic, 07 March 2024. Web.
Comments