They may not go 'bankrupt' in the sense that we usually think of...more money going out than coming in, or mismanagement or bad luck in the business/physical world.
What appears to be happening is that Watchtower is an ever-increasing number of ways to keep more and more money away from successful plaintiffs and various governments. (I'm doing this from memory here, I have to check facts later when I have time and access to the right hard drive.)
In France, it would appear Watchtower has divested itself of property and transfered assets AND production to other countires.
In the United States, Watchtower either outright owns or has a title/claim on the Assembly Halls and Kingdom Halls, and has since the Bonham Texas incident.
I personally know of one case where a mortgage-free Kingdom Hall was sold for about a million dollars and a new one built for about a half a million dollars in a cheaper part of town with slave---I mean donated- materials and labor. Where did the other half million go? This has been happening ALL OVER THE United States for at least ten years, which is when suits began to be filed against Watchtower over the shunning/expulsion issue, starting I believe with the State of Washington.
In another case I was told about, taking place near me, a Kingdom Hall was sold and the publishers distributed throughout nearby territories. The KH was sold for a half million dollars, and the new one, whenever it will be built, will be about a half million dollars. BUT in the meantime, all that cash is sitting around the Watchtower bank accounts earning money. One percent of a couple of million dollars is nothing to sneeze at even today.
Also at a DIFFERENT KH near me, the Hall was mortgage-free. Watchtower demanded that the congregations (who already have paid for the KH plus interest through a loan that was their money to begin with, which means they have paid for the KH THREE times AND still do not own it) mortgage themselves to pay for really stupid things like equipment and expansions that are totally unnecessary. This means that the publishers get to pay for the KH a FOUTH TIME (and still will not own it). I remember sitting in the KH audience when these motions were being passed and thinking to myself "are these people (publishers) stupid or just masochistic?" That was earlier this year. I have very little insight into the financial world, yet even I know FRAUD and financial abuse when I see it. Many of the publishers in these congregations are either poor single-parent families or are elderly or near-elderly. <sigh>
At the same KH as above, Watchtower forced the congregations to depostit/transfer insane amounts of money (thousands) for literature that MIGHT be ordered in the future. Thousands!!!! I know that we have to PAY for the Kingdom Ministries EVERY MONTH in addition to that deposit. That money came from another loan, there has NEVER been thousands of dollars in the congregation bank accounts. And more money is going out than is coming in. I strongly suspect our elders, in a conspiracy with Watchtower, are willfully raiding the assets of our congregation in case they are sued.
Watchtower admitted at the convention last year, and perhaps in the literature--I don't know-- that money is going OUT of the United States to other countries for alleged Kingdom Halls..four poles a roof and dirt floors. Now we know MORE money is going out than is being spent on these 'buildings' for worship. We know too, in large part if not all, the relief goods for the Witnesses in African countries is paid for by the United Nations (or by Witnesses in Europe). We know the transportation costs are paid for by the United Nations. We know that the protection costs are paid for by the United Nations. For crying out loud, Watchtower officials THEMSELVEs were flying around in airplanes at the expense of the United Nations.
SO WHERE IS THE MONEY GOING?
It is obvious upon its face that Watchtower is RAIDING and LOOTING all its own assets. WHEN the abuse survivors go to collect their judgments, I fear there will be nothing left for them to collect ON unless we can stop these asset transfers.
he Archdiocese of Boston is considering the option of filing for bankruptcy if it loses large judgments in clergy sexual abuse cases, including the dispute currently being heard in Suffolk Superior Court over whether it must abide by an agreement to pay alleged victims of convicted child molester and former priest John J. Geoghan between $15 million and $30 million, church advisers said.