Fun Facts About Bankruptcy

Facts About Bky pic

Most of our blogs focus on providing advice, tips and general information, so we decided to have a little fun with this blog and discuss some of the fun facts surrounding bankruptcy. See how many answers you know to the questions below:

Q: Who dubbed the phrase “indubitable equivalence?

A: The famous jurist, Judge Learned Hand (See In re Murel Holding Corp., 75 F.2d 941 (2d Cir. 1935).

Q: Who wrote Collier on Bankruptcy, one of the most well-respected legal treatises?

A: William Miller Collier was the author and the treatise was originally published in 1899.

Q: Who is considered the most litigious person in the world?

A: According to the ABC News website, Jonathan Lee Riches was named by the Guinness Book of World Records as the most litigious person in the world. In response, Mr. Riches filed a lawsuit against the Guinness Book of World Records!

Q: Have any United States Presidents filed for bankruptcy protection?

A: Yes, there were at least four: Abraham Lincoln, Thomas Jefferson, Ulysses S. Grant, and William McKinley.

Q: Who filed the largest bankruptcy?

A: Lehman Brothers Holdings Inc. filed the largest Chapter 11 case ever (to date) in 2008. The U.S. investment bank listed $639 billion in assets.

If you are interested in learning about how a bankruptcy filing will impact your debt, contact Faro Crowder, PA to schedule an appointment.

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