Big Dunc Declared Bankrupt

[blueser]

the thing is if you have financial advisors who advise you that an investment scheme is all above board and they come highly remccomended anyone could be caught out, the tax bills these guys will be hit with are huge and now that Dunc is on relatively low money than back in his playing days he has to take this course of action

on the upside this has been coming for years and years, a fella tole me about this and i read about it in the paper 12 months later he did not mention Dunc but a list of other people involved in football

 

[hktoffee]

Sorry to hear this.

 

[LydiateLee]

Give him the managers job.

 

[Whistlin' Dixie]

Wait, how? Doesn't he work as a first team coach for us?

It's only one of those work for your dole apprenticeship schemes, innit?

 

[gonetomorrow]

No idea what you're talking about.

He's had loads and avoided tax and now he's bankrupt.

Not a very wise decision maker. No sympathy whatsoever.

Very harsh. Since he's obviously spread his cash around the world in various ways - some unwise perhaps - can we not perceive him as a foolish philanthropist?

 

[njligernj]

Likewise and without wishing to appear unkind or uncaring, there are thousands on the terraces each weekend who struggle to make ends meet on a fraction of what footballers earn and somehow most of us manage to avoid bankruptcy.

Typically you don't declare bankruptcy because you are 400 short every month on your bills. Paradoxically it's mainly people who have been earning a decent chunk, it dried up but they have bills left over from the high earning days and can't make the payments.

Donald Trump has been "bankrupt" a lot for instance. They have no shame: bankruptcy is just a tool in their belt to help them make more money.

Basically bankruptcy makes sure rich people stay rich and don't have to pay all their bills.

System is broken; I can't be mad at Dunc for taking advantage.

 

[Foot Long Hot Dog]

Typically you don't declare bankruptcy because you are 400 short every month on your bills. Paradoxically it's mainly people who have been earning a decent chunk, it dried up but they have bills left over from the high earning days and can't make the payments.

Donald Trump has been "bankrupt" a lot for instance. They have no shame: bankruptcy is just a tool in their belt to help them make more money.

Basically bankruptcy makes sure rich people stay rich and don't have to pay all their bills.

System is broken; I can't be mad at Dunc for taking advantage.

Donald Trump has never been made personally bankrupt. There's a difference between allowing a Limited company to go into receivership / bankruptcy and being made personally bankrupt as an individual.

 

[Eggs]

.....it wasn't so long ago he was included in the Sunday Times rich list. It might be harsh but I have no sympathy for him.

 

[peteblue]

Don't know what he's invested in to become bankrupt, but I bet he has left a lot of people in the crap with unpaid debts.

HMRC.....apparently......

 

[njligernj]

Donald Trump has never been made personally bankrupt. There's a difference between allowing a Limited company to go into receivership / bankruptcy and being made personally bankrupt as an individual.

I'm aware; I almost mentioned that but didn't want my post to get too long and frankly I don't think it's as important a distinction as people always insist.

Trump has better lawyers than Dunc ... not a surprise. There is no practical difference between a human being and a corporation in the US ... legal voodoo.

The distinction you point out, one's personal obligations v. those of a LLC etc, no longer really exists in reality for people like Trump. Trump is a corporation -- I doubt he has any personal obligations whatsoever. It would be essentially impossible for him to go personally bankrupt since everything (even his car, homes and food) would flow through a corporation.