Been seeing a lot about the Alex Jones case (sued by families of Sandy Hook victims for $1B.)
After bankruptcy, iquidating his assets (home? Car? Studio?) AND giving up his companies, he STILL owes more money/,
How can someone left with nothing (and still in debt) get basic care / necessities / housing when their income must all go to the lawsuit?
In: Other
The details vary with what jurisdiction you’re in, but they can’t actually take everything. Might lose your vacation house but most jurisdictions won’t force you to give up a primary residence for example. More extreme ones might require you to liquidate and downsize but…still not going homeless. Similarly they’re not generally allowed to leave you without reasonable transport, take personal necessities, and so on.
Your income may be garnished or assets seized, but you’ll make a case to the judge for your necessary living expenses based on outstanding debts, historical needs based on bank statements, that kind of thing. Not ALL of your income will actually be taken, just what it’s deemed you can get by without.
When there’s THIS much money involved the audit and liquidation process will likely take years and the final payout will be lower than the initial judgement.
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