Former University of Georgia football coach Jim Donnan has agreed to a bankruptcy settlement with investors after he was accused of running a $40 million Ponzi scheme through GLC Limited collezione hogan, a company he helped found.
Donnan, the Georgia coach from 1996 to 2000, was an initial investor with a company hogan outlet, which bought and sold appliances. The coach reportedly promised payouts of 50 to 70 percent interest to investors and actively recruited other high-profile investors, including coaches Barry Switzer, Frank Beamer hogan sito ufficiale, Dennis Franchione and Tommy Tuberville.
GLC was unable to keep its promised payouts and filed for bankruptcy in 2011. After the company bankruptcy and multiple personal lawsuits, Donnan filed for Chapter 11 bankruptcy last year. Although we do not support Donnan business practices, his case is a good example of how bankruptcy can help you restructure yourself financially. Most people struggling financially do not file for Chapter 11 bankruptcy, but Chapter 13 is an option for people struggling with debt. Items like cars or homes can be saved under a Chapter 13 repayment plan. A Chapter 13 bankruptcy also allows for the discharge of unsecured debt, like credit card debt or medical bills.
Kevin D. Judd
Law Firm of Kevin D. Judd
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