ABR 2nite: U.S. Open Redux

[Jaden]

Unless he files for bankruptcy protection...

Who knows how Barry has his business set up. It could be a new LLC every year, which would isolate one year from the next.

I doubt Shane is going to sue him. Maybe he should...

But if he did, it would probably take longer than 3 months so that whatever amount of money Pat would be holding would have already been paid out to the 2015 players. And even if it was successful, the lawyers would probably get half. And third, Shane could just continue to place high or win and do better money wise versus suing Barry, especially now that Pat will be handling ALL aspects of the player prize fund.

So if Shane did sue him, it would be to make a statement, not to actually get more money. Imo.

Yeah, creating a new LLC each year wouldn't necessarily protect it from previous iterations, unless he files for bankruptcy protection.

"In addition, in most states, if you don't pay or settle your old debts before you form a new corporation or LLC—or have the LLC or corporation take over the debts and pay them in a timely fashion—the creditors of your old business can get a judgment against the new corporation or LLC and seize assets of the corporation or LLC to sell to pay the old debts."

Jaden

p.s. If he created his other businesses as an LLC as well, they wouldn't necessarily be sheltered from the debts of his other corporations. So it COULD potentially mean that Shane becomes owner of the pool hall...lol

 

[watchez]

If I loaned someone $15K, I wouldn't it back in $300 a week installments. It would feel like I never got paid.

Mark - who is the 'someone' that Barry is upset with?

 

[Chicagoplayer]

I've checked-

Who knows how Barry has his business set up. It could be a new LLC every year, which would isolate one year from the next.

I doubt Shane is going to sue him. Maybe he should...

But if he did, it would probably take longer than 3 months so that whatever amount of money Pat would be holding would have already been paid out to the 2015 players. And even if it was successful, the lawyers would probably get half. And third, Shane could just continue to place high or win and do better money wise versus suing Barry, especially now that Pat will be handling ALL aspects of the player prize fund.

So if Shane did sue him, it would be to make a statement, not to actually get more money. Imo.

____________________________________

He has reincorporated repeatedly,
changing the spelling of the name of Q- Masters,
adding an ampersand or the word And, among the variations.

Tax times a comin'

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