Billionaire to bankruptcy

Halsey Minor sold his company in 2008 for $1.8 billion in 2008 – five years later his is asking for a complete discharge of his debts through a Chapter 7 bankruptcy case. Filed last month, Minor’s Chapter 7 bankruptcy case reported assets totaling less than $50 million with debts of up to $100 million. Under a Chapter 7, a trustee will take whatever assets are not exempt, liquidate those assets and pay as much as he can to Minor’s creditors. The remaining debts will be discharged so that Minor will have a “fresh start” for the future.

For more details see, “How Halsey Minor Blew Tech Fortune on Way to Bankruptcy.”

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