While it is true they are a tax exempt nonprofit religious organization and thus can acummulate wealth tax free. We also do not know how they invested all that money most I think went into real estate. I think that paying off these lawsuits that are running into the millions$$$ they will do some massive sell offs to stay in operation, consolidating two congregations into one and selling them and using the proceeds, selling branches, as the lawsuits become very numerous and costing an average of say one million$$$, they will be forced to sell big giant gobbs of their non liquid assets further causeing a faster/excelerated exodus for those who are starting to wake up and smell the coffee bouquet.
I see a snowball rolling down a hill effect in the making when it comes to pay out time for a lot of these aready waiting in the wings with some law firms due to the publicity over past victories and increasing their clientele drastically, and thus making a killing off the WT corporation and their ever so much dumbed down and delusional Governing Body. The sharks with increasing numbers are already smelling the blood in the water and circling the Watchtower Corporation and their ever so nutty and perhaps senile Governing Body calling the shots and juggling the asset making them even more hungry as they hope for bigger and better pay offs in the not too distant future, and it looks very promising till this Corporation goes belly up. They want to strike before their cash cow thows up one of those bankruptcy chapters to stop the feeding and try tokeep them at bay.
United States [ edit ]
Bankruptcy in the United States is a matter placed under federal jurisdiction by the United States Constitution (in Article 1, Section 8, Clause 4), which allows Congress to enact "uniform laws on the subject of bankruptcies throughout the United States". The Congress has enacted statutes governing bankruptcy, primarily in the form of the Bankruptcy Code, located at Title 11 of the United States Code. Federal law is amplified by state law in some places where Federal law fails to speak or expressly defers to state law.
While bankruptcy cases are always filed in United States Bankruptcy Court (an adjunct to the U.S. District Courts), bankruptcy cases, particularly with respect to the validity of claims and exemptions, are often dependent upon State law. State law therefore plays a major role in many bankruptcy cases, and it is often not possible to generalise bankruptcy law across state lines.
Generally, a debtor declares bankruptcy to obtain relief from debt, and this is accomplished either through a discharge of the debt or through a restructuring of the debt. Generally, when a debtor files a voluntary petition, his or her bankruptcy case commences.