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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (46482)	12/2/2005 10:05:07 PM
From: jackjc	Respond to of 110194

Well the personal guarantee note that is also signed puts many other type assets in the hopper. And the shortage upon sale brings a judgement to cover that. Then the 'discovery' process requires a complete report of all assets, lying opens up the jail possibility. So the offshore guys think they can tell the truth and stay out of jail, but say the assets are no longer in their control, having been irrevocably signed over to the trustee. But the judge can jail them anyway til they cough it up. However for married people a Swiss Annuity if taken with a 'clean' initial condition, and after 1 yr time, can shield assets legally. But you would have to have the income to cover the mortgage etc, at the time it was taken. The intent, how it looks counts. Not legal advice, just my recall of past reading on the subject.