It says he sold his house to an oil and gas rights guy.
It didn't say wether the guy wanted to live there, drill / frak there, or both.
I don't get it from a financial perspective. He could keep it through bankruptcy. He has (if I remember correctly) other properties he could sell if he needed cash (homes in Aspen, maybe Hawaii).
Does anyone know if you can 'extradite' civil settlements, like you can criminal sentences?
Hypothetically lets say Armstrong transfers all his cash to Costa Rico. (Well, minus what he has stashed in Switzerland). Then he moves to Costa Rico. Then SCA, USPS, etc.. Take him to court and win. Armstrong doesn't bother to show.
He loses. He gets a bill in the mail from SCA. He scribbles 'No hablo Englais' on it and sends it back.
Can he be forced to pay? Like could the Costa Rican government seize his assets?
Obviously, I picked Costa Rico kinda randomly, substitute any country people like to retire to.
With good offshore asset protection, no he can't be forced to pay (just like OJ). There are still a number of countries that won't cooperate with US investigations or information requests. However the number is dwindling rapidly due to some changes by the IRS which effectively ban banks from the US market if they don't cooperate. Many will no longer take US depositors because of all the headaches it entails. The other issue is fraud, which is rampant in many tax havens. Vanuatu will keep your money from the US legal reach but is very likely to keep you from ever getting it back as well.
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