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Message: <blockquote data-quote="Willie the Duck" data-source="post: 9046097" data-attributes="member: 6799660">It depends. This has all the hallmarks of a <a href="https://www.investopedia.com/texas-two-step-bankruptcy-definition-5225888#:~:text=A%20Texas%20Two%2DStep%20bankruptcy%20is%20a%20legal%20defense%20that,the%20new%20company%20declares%20bankruptcy." target="_blank">Texas Two-Step</a> (own two companies, give one company all the benefits, saddle the other with all the debt, have the later fail or declare bankruptcy). Exactly how legal (and immune to clawback actions) any of it is is incredibly jurisdiction-dependent. Large corporations* have been able to help cultivate laws which favor them being able to do this. Small company-conglomerates like LaNasa's business impire less so, but still they have advantages individuals rarely have in this regard. If this were a simple bankruptcy, I honestly would expect he'd get away with this method of sheltering assets and erasing debts. Once you factor in the lawsuit, however, I kinda expect they'll be able to go after anything he owns under any corporate framework**.*and institutions in the non- not-for-profit sectors, such as hospital chains and archdiocese.**especially given how carelessly he has been with keeping the entities separate. That's the part of this that intrigues me. The numbers are so small. Mind you, the ~$400,000  total LaNasa (claims) he invested in this business is a decent chunk of change for me*, but once you recognize that we're talking about an individual with multiple businesses and 1/2 dozen+ employees, it starts feeling very down to earth. Even moreso once we're talking about someone trying to go toe-to-toe with a corporation whose latest venture grossed 202 million and that's considered disappointing. I mean, I knew it was 'mouse taking on lion,' but not at this level. I don't know, I guess I was expecting with all the talk about people inquiring about their early orders not being fulfilled and such that they were at least actually moving product, and the numbers be more like maybe $80,000 income, simply not enough to support the 3-6 people I assumed were working full-time on the endeavor (to say nothing of the legal costs, etc.). *Depending, I guess, on whether it's a loss for failed business venture, price of a house, income over a given time period, or how much retirement savings I should have in at my age. </blockquote>

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