It should be noted that Chapter 11 bankruptcy is routinely used as a means of restructuring assets, and may not mean he necessarily ran out of money. He may not have the available money in liquid assets to pay off his sudden debts in the time-frame ordered by the courts, and needs to reorganize his assets.
This whole thing doesn't really make sense right now, but more details are expected to emerge about his finances over the next few weeks. We wonder if he actually did party every day, like it was birthday. Hey, those trick candle costs really add up!
Wil Fulton is a staff writer for Supercompressor. He loves cake like a fat kid loves cake. Follow him @WilFulton.
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