Draconian laws are named after the 1st Greek legislator, Draco, who meted out severe punishment for very minor offenses. These included enforced slavery for any debtor whose status was lower than that of his creditor and the death sentence for stealing a cabbage. en.wikipedia.org/wiki/Dra…
The Woodstock festival actually lost money, and it was the movies and the live album which enabled the producers to earn money to pay off creditors money.cnn.com/2009/08/14/…
Barton Watson defrauded creditors of $114,000,000 in an elaborate Ponzi scheme through his IT company, CyberNet. At Watson's direction, CyberNet installed empty boxes with blinking lights, passing them off as servers; and secured loans with junk equipment and recycled equipment serial numbers. grbj.com/articles/65386
Creditors are obligated to take "legal tender" for payment of debts and because U.S. paper currency reads "This note is legal tender" cash money cannot be refused for payment of a debt by a creditor investopedia.com/terms/l/…
The State of Mississippi borrowed $7 million from creditors in England to issue bonds for the creation of two state-owned banks, and rather than repay the debt, Mississippi amended its constitution to prohibit repayment in its entirety. sos.state.ms.us/ed_pubs/c…
Mark Twain repaid his pre-bankruptcy creditors in full, though he had no legal obligation to do so. "I am not a business man; and honor is a harder master than the law. It cannot compromise for less than a hundred cents on the dollar, and its debts never outlaw." twainquotes.com/18980312.…
The Cook Islands made laws to specifically "thwart the long arm of American justice" by allowing foreigners to shelter their assets away from creditors and authorities en.wikipedia.org/wiki/Coo…
Air Nauru's Boeing 737-300 consumed nearly 30% of the nation's GDP and the near-bankrupt airline Air Nauru was seized by creditors in Australia which left the nation without any air service in 2005 en.wikipedia.org/wiki/Nau…
That, if you take wealth hidden in tax havens into account, US net foreign debt is greatly reduced and Europe actually becomes a creditor qje.oxfordjournals.org/co…
The U.S. was the world's biggest creditor when Reagan became President, and the world's largest debtor by 1985. en.wikipedia.org/wiki/Rea…
Today I learned of Ronald Wayne, the third founder of Apple, Inc. He was given 10% ownership of the company, but soon after he sold it for $800, partly because he was afraid he would be the only owner with assets that could be seized by creditors. That stake would now be worth $35 billion. cnbc.com/id/44505957
In 2004 German football giant Borussia Dortmund was unable to pay the saleries of their players. A €2 million loan was the only thing that kept the club alive. The creditor; long time rival Bayern Munich. theguardian.com/football/…
The UK has a different style of Bankruptcy than the US, known as Administration, in which an appointed administrator runs the business on behalf of its creditors jonesday.com/files/Public…
Argentina defaulted on its debt in 2014, and that it was triggered by rules which favored hardline creditors in bond issuances governed by US law. theguardian.com/business/…
In 1579 a passion play in Seville turned into a brawl because the man playing 'Jesus' owed someone money. 'Judas' tried to push Him off the cart used as a stage so he could be captured by his creditors & 'Peter' struck 'Judas' over the head with his sword. jerz.setonhill.edu/resour…
Despite declaring bankruptcy in 1991 creditors still are attempting to resolve debt with Bank of New England even in 2009, over 18 years later en.wikipedia.org/wiki/Ban…
For 500 years there was a prison in London that held men for acts of buggery and sedition. The most prominent inmates became those who were in debt... they were held for as long as the creditor wanted and had access to a bar, shop and restaurant - while hundreds of others died from starvation... en.wikipedia.org/wiki/Mar…
Iceland did NOT "tell the creditors & IMF to go jump, nationalise banks, arrest the fraudsters, give debt relief" studiotendra.com/2012/12/…
Babylonian kings occasionally issued decrees for the cancellation of debts. Such "clean slate" decrees were intended to redress the tendency of debtors to become hopelessly in debt to their creditors, thus accumulating most of the arable land into the control of a wealthy few. en.wikipedia.org/wiki/Jub…
There used to be a "gold clause" in all debt contracts that guaranteed payment in gold, making it possible for creditors to raise the debt burden of a loaner 70% by requiring payment in gold instead of dollars. en.m.wikipedia.org/wiki/B…
Even though Mark Twain declared bankruptcy and was under no legal obligation he made sure that all of his creditors were paid back in full. dennisyew.articlesbase.co…

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