Judge Mathis says 50 is Done... EDIT: Bankruptcy Judge Says he's Playing Games :yowzers:

[The D-List Vet]

Judge Mathis dont know how "wise" OUR accountants are at the Unit.

Plus fif probably won more money on the mayweather pacman fight than he's being asked to pay, he could pay the damages with that

50 is done breh take the L

 

[50CentStan]

50 is done breh take the L

and by this time next year I will be back to tell you

 

[Big Boss]

 

[GzUp]

@Cloud Cloud thanks for the constant updates


Looks like u got his stans

 

[GzUp]

First there is no link to Judge Mathis saying of the stuff you wrote.

Second, the link you provided contradicts what you posted OP.


By Attorneys Jeff & Patty Williams

If you have a Corporation or an LLC, there is no personal liability for any of the debts unless you signed a personal guarantee. But if do not have a corporation or an LLC, and instead own a Sole Proprietorship or are a partner in a business, you are personally liable for allof the business debts.

Whether your small business entity should be bankrupted or not depends on several factors. Among the factors to be considered are:

· -- Do you have the time, energy, and desire to continue the business?

· --Are there any significant assets (tools, inventory, vehicles, buildings, etc.)?

· --What is the net worth of the entity, when debts are subtracted from assets?

(You need an accurate current Balance Sheet to determine this.)

· --How much profit or loss did your company generate during

(1) the six calendar months prior to your bankruptcy filing and

(2) for the year-to-date when you file?

· --Do you own all the stock or membership interest? If not, who else does?

· --Are any Federal withholding (payroll) taxes due?

· --Are any State sales taxes due?

· --Are there any unpaid salaries due?

Another matter to be decided in making this decision is, are your personal finances and those of your corporation or LLC (hereafter, called “entity") entirely separate, or intermingled? For example, perhaps some months there isn’t enough money in your personal account to make a required house or car payment, so you write a check from your business account to cover it. Or, the business entity has some bills coming up, so you cover them by making payments using your personal charge cards. Intermingling like this can make it very difficult, or impossible, to figure who owes what. It can also invite a detailed tax audit of both yourself and the entity.

If both you and your business entity are way behind on bills with no chance of catching up, and you definitely need to file personal bankruptcy, it may or may not make sense to also file bankruptcy for the entity.

Cloud is bolding the important parts, can u do the same?

 

[wheywhey]

2) The Judge will deny his bankruptcy and he will just outright have to sell all his houses, cars and business assets ASAP to pay his debts.

50 has been trying to sell his Farmington, CT house for years. He would have to put it up for auction and take whatever he can get. He paid $4 million and did $6 million in renovations. Zillow says the place is worth $700 thousand.

Farmington Home

3) While the Judge is determining if they will grant the bankruptcy, they do a deep forensic analyst of his financials, finds he's hiding money / "shuffling", as Judge Mathis would put it, and he ends up in jail for 10 years.

Ironically the original owner of the Farmington house filed bankruptcy and was caught hiding his assets. He was sentenced to 9 years in prison. Most of the owners of that house have filed bankruptcy.

The long, messy history of 50 Cent’s Connecticut home

 

[Mac Casper]

Judge Mathis dont know how "wise" OUR accountants are at the Unit.

Plus fif probably won more money on the mayweather pacman fight than he's being asked to pay, he could pay the damages with that

Breh . . how much do you think the that bet paid out

 

[SleezyBigSlim]

50 has been trying to sell his Farmington, CT house for years. He would have to put it up for auction and take whatever he can get. He paid $4 million and did $6 million in renovations. Zillow says the place is worth $700 thousand.

Farmington Home



Ironically the original owner of the Farmington house filed bankruptcy and was caught hiding his assets. He was sentenced to 9 years in prison. Most of the owners of that house have filed bankruptcy.

The long, messy history of 50 Cent’s Connecticut home

Damn that house is cursed

 

[CodeBlaMeVi]

Cloud is bolding the important parts, can u do the same?

Check

 

[Grizzly]

It's really lame how invested you nikkas are in this shyt. The Coli doesnt need 24 hour around the clock updates on this bullshyt.

 

[director_of_bands]

so this "50 is in financial trouble" story is actually picking up steam? what happened to all that vitamin water money? no way this ngga is done unless them vitamin water numbers were fugazi

 

[Olu Dara]

in other threads u were acting like u knew all about bankruptcy laws, now mathis taught you something so simple, for how much you were acting like u know

50 won.

 

[Teko]

First there is no link to Judge Mathis saying of the stuff you wrote.
Second, the link you provided contradicts what you posted OP.

By Attorneys Jeff & Patty Williams

If you have a Corporation or an LLC, there is no personal liability for any of the debts unless you signed a personal guarantee. But if do not have a corporation or an LLC, and instead own a Sole Proprietorship or are a partner in a business, you are personally liable for allof the business debts.

Whether your small business entity should be bankrupted or not depends on several factors. Among the factors to be considered are:

· -- Do you have the time, energy, and desire to continue the business?

· --Are there any significant assets (tools, inventory, vehicles, buildings, etc.)?

· --What is the net worth of the entity, when debts are subtracted from assets?

(You need an accurate current Balance Sheet to determine this.)

· --How much profit or loss did your company generate during

(1) the six calendar months prior to your bankruptcy filing and

(2) for the year-to-date when you file?

· --Do you own all the stock or membership interest? If not, who else does?

· --Are any Federal withholding (payroll) taxes due?

· --Are any State sales taxes due?

· --Are there any unpaid salaries due?

Another matter to be decided in making this decision is, are your personal finances and those of your corporation or LLC (hereafter, called “entity") entirely separate, or intermingled? For example, perhaps some months there isn’t enough money in your personal account to make a required house or car payment, so you write a check from your business account to cover it. Or, the business entity has some bills coming up, so you cover them by making payments using your personal charge cards. Intermingling like this can make it very difficult, or impossible, to figure who owes what. It can also invite a detailed tax audit of both yourself and the entity.

If both you and your business entity are way behind on bills with no chance of catching up, and you definitely need to file personal bankruptcy, it may or may not make sense to also file bankruptcy for the entity.

This is a very long post but the point is really simple: his ownership stakes in those companies will get gobbled up to help pay for his debts i.e the stakes are in play in this scenario

 

[sayyestothis]

This is what I been telling you guys in the previous posts an no one wants to listen. Filing PERSONAL bankruptcy here is the key. He is owner of all those LLCs/companies so they are fair game.

 

[Wild self]

It's really lame how invested you nikkas are in this shyt. The Coli doesnt need 24 hour around the clock updates on this bullshyt.

Yes we do

Curt-ass is finished