Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Cogito Ergo Sum who wrote (6606)	8/3/2001 11:21:04 PM
From: TobagoJack	Read Replies (3) of 74559

To anyone on the thread, what is the consequence of personal bankruptcy in all its flavors in the US? In Hong Kong we still have debtor's prison, a fine and traditional British institution that really keeps debt performing. Something to be said for British common law. Once upon a time a major US oil company refused to pay one of our business bills and its CEO refused to take my partner's phone calls. It took us less than 2 days to prove our case to a judge who then issued a wind-up order for the entire Asia company of the not-to-be mention oil company. The CEO then got on the phone with my partner in a hurry, as if a nuclear bomb was about to go off under his seat:0) Chugs, Jay

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