The W
Views: 97700162
Main | FAQ | Search: Y! / G | Calendar | Color chart | Log in for more!
26.7.14 0617
The W - Football - Pay up, you pot-smoking bum....
This thread has 19 referrals leading to it
Register and log in to post!
Thread rated: 6.14
Pages: 1
(1589 newer) Next thread | Previous thread
User
Post (9 total)
haz
Landjager








Since: 2.1.02
From: Whitby, Ontario, Canada

Since last post: 38 days
Last activity: 4 days
#1 Posted on | Instant Rating: 5.64
http://sports.espn.go.com/nfl/news/story?id=1888009


Time to pay the piper Ricky... Stop smoking that stuff and cut the Dolphins a cheque.



Where the wild are strong, and the strong are the darkest ones, you're the Darkest One.
Promote this thread!
Roy.
Pepperoni








Since: 25.2.04
From: Keystone State

Since last post: 2268 days
Last activity: 738 days
#2 Posted on | Instant Rating: 5.55
He's just going to file bankruptcy. I seriously doubt that the Dolphins will see any of that money.
Zeruel
Thirty Millionth Hit
Moderator








Since: 2.1.02
From: The Silver Spring in the Land of Mary.

Since last post: 4 days
Last activity: 3 hours
#3 Posted on | Instant Rating: 4.05
http://www.uscourts.gov/bankruptcycourts.html

United States Bankruptcy Courts
Federal courts have exclusive jurisdiction over bankruptcy cases. Bankruptcy cases cannot be filed in state court. Each of the 94 federal judicial districts handles bankruptcy matters. The primary purposes of the law of bankruptcy are: (1) to give an honest debtor a "fresh start" in life by relieving the debtor of most debts, and (2) to repay creditors in an orderly manner to the extent that the debtor has property available for payment

They will liquidate all his assets to satisfy the debt.






The Catastrophic Annihilation War Room

JayJayDean
Scrapple








Since: 2.1.02
From: Seattle, WA

Since last post: 4 days
Last activity: 11 hours
AIM:  
Y!:
#4 Posted on | Instant Rating: 6.89
If he does file bankruptcy, would the Dolphins be considered a secure or an unsecured creditor? If they're unsecured, they're not going to see very much of that money after all.



“To get ass, you’ve got to bring ass." -- Roy Jones Jr.

"Your input has been noted.
I hope you don't take it personally if I disregard it."
-- Guru Zim

"Speak English or face admin retribution." -- CRZ
Roy.
Pepperoni








Since: 25.2.04
From: Keystone State

Since last post: 2268 days
Last activity: 738 days
#5 Posted on | Instant Rating: 5.55
    Originally posted by JayJayDean
    If he does file bankruptcy, would the Dolphins be considered a secure or an unsecured creditor? If they're unsecured, they're not going to see very much of that money after all.


The scenario put forth on ESPN radio a few weeks ago was that they were unsecured, and that they'd get basically nothing from Ricky if he declares bankruptcy.
Excalibur05
Knackwurst








Since: 19.1.02
From: Minnesota

Since last post: 2 days
Last activity: 13 hours
AIM:  
#6 Posted on | Instant Rating: 7.73
    Originally posted by Zeruel
    They will liquidate all his assets to satisfy the debt.




Liquidate all his assets...hmmm...what's the going rate on a dime bag? They'll make a fortune!



Tonight I wanna ruin my life,
I wanna throw it all away,
In a spectacular way
Big Bad
Scrapple








Since: 4.1.02
From: Dorchester, Ontario

Since last post: 1 day
Last activity: 7 hours
#7 Posted on | Instant Rating: 5.57
    Originally posted by Excalibur05
      Originally posted by Zeruel
      They will liquidate all his assets to satisfy the debt.




    Liquidate all his assets...hmmm...what's the going rate on a dime bag? They'll make a fortune!


Hey Matt, since the Diva Contest is over, why not send RVD off with Ricky and Nate Newton on a pot-seeking adventure to raise money? It writes itself!....or, in another, more accurate way, you write it yourself.



BigVitoMark
Lap cheong








Since: 10.8.02
From: Queen's University, Canada

Since last post: 3288 days
Last activity: 3198 days
ICQ:  
#8 Posted on | Instant Rating: 5.14
TSN reported on Friday night that if Williams does file for bankruptcy he would become a free agent. Does anyone know the ins-and-outs of that?



Screw Ricky
Zeruel
Thirty Millionth Hit
Moderator








Since: 2.1.02
From: The Silver Spring in the Land of Mary.

Since last post: 4 days
Last activity: 3 hours
#9 Posted on | Instant Rating: 4.05
    Originally posted by BigVitoMark
    TSN reported on Friday night that if Williams does file for bankruptcy he would become a free agent. Does anyone know the ins-and-outs of that?


I couldn't find anything about that on TSN.ca, ESPN.com, nor NFL.com

Maybe by declaring bankruptcy he will be absolved of any current contracts?

    Originally posted by Roy.
    The scenario put forth on ESPN radio a few weeks ago was that they were unsecured, and that they'd get basically nothing from Ricky if he declares bankruptcy.


This isn't the best place to learn bankruptcy law, but we just covered that in my business class tonight.

This is all from my book, "Understanding Business", 7th edition, copyright 2005 by Nickles, McHugh, & McHugh. www.mhhe.com/ub7e

Under Chapter 7, liquidation, a debtor can retain up to $7,500 of equity in a home ($15,000 for a married couple); $1,200 of equity in an automobile; up to $4,000 in household furnishings, apparel, and musical instruments; and up to $500 in jewelry.

When the sale of assets are over, the resulting cash is divided among creditors, including the government.

Chapter 7 stipulates the order in which the assets are to be distributed among the creditors. First, creditors with secured claims receive the collateral for their claims or repossess the claimed asset (such as an automobile). Then unsecured claims are paid in this order:
1. Costs involved in the bankruptcy case.
2. Any business costs incurred after bankruptcy.
3. Wages, salaries, or commissions (limited to $2,000 per person).
4. Contributions to employee benefit plans.
5. Refunds to consumers who paid for products that weren't delivered (limited to $900 per claimant).
6. Federal and state taxes.

The remainder (if any) is divided among unsecured creditors in proportion to their claims.

Chapter 11, reorganization, is really for businesses.

Chapter 13, repayment, permits individuals, including small-business owners, to pay back creditors over a period of three to five years. Chapter 13 proceedings are less complicated and less expensive than Chapter 7 proceedings. The debtor files a proposed plan for paying off debts to the court. If the plan is approved, the debtor pays a court-appointed trustee in monthly installments as agreed on in the repayment plan. The trustee then pays each creditor. In bankruptcy legislation proposed by the U.S. Congress in 2002, more debtors would have been required to file bankruptcy under Chapter 13.

I'm sure he will go Chapter 13.

(edited by Zeruel on 28.9.04 2308)



The Catastrophic Annihilation War Room

Thread rated: 6.14
Pages: 1
Thread ahead: Kellen Winslow's season is over.
Next thread: The Colts offensive display
Previous thread: The Browns offensive display
(1589 newer) Next thread | Previous thread
yeah... talk about force feeding us something.... of course 24 had a million commercials too.... thanks for the infor odessa I AM THE BEST there is, was and ever will be!!!! Dont you wish that you were me??? no?.... i've got two words for ya!
- SerWolfe, What's more annoying? (2002)
The W - Football - Pay up, you pot-smoking bum....Register and log in to post!

The W™ message board

ZimBoard
©2001-2014 Brothers Zim

This old hunk of junk rendered your page in 0.208 seconds.