WTBTS - You can run, but you can't hide

by The Fall Guy 10 Replies latest watchtower scandals

  • The Fall Guy
    The Fall Guy

    I apologise if this has been discussed while I was on vacation, but I've just become aware of it.

    Is the WTBTS preparing to avoid losing a fortune, by declaring bankruptcy?

    The cult's scumbags may be about to initiate their own "great tribulation." :)


  • Vidiot
    The Fall Guy - "...Is the WTBTS preparing to avoid losing a fortune, by declaring bankruptcy?..."

    Can a tax-exempt organization with a large (albeit dwindling) pool of assets even do that?

  • iwantoutnow

    wishful thinking with no basis in reality.

  • Tameria2001

    Fall Guy, Someone was saying why the Watchtower can't declare bankruptcy. The reason being they have assets, such as kingdom halls, assembly halls, and so on.

  • fulano

    How can you declare bankruptcy with so many asstes? Unless they have on another organization.

  • frozen2018

    Non-profits, including churches, can file for bankruptcy. Under Chapter 7 assets are liquidated and the proceeds go to creditors. Under Chapter 11, debt is reorganized and creditors are paid off on a Court approved schedule.

    A reason why churches file for bankruptcy is to stop new civil suits from being filed. When bankruptcy is filed, the amount any existing civil suit is worth is decided by Bankruptcy Court, not Civil Court.

  • LV101

    Maybe/maybe not. Thanks for the link, TFG. I hope the court's don't allow them an easy way out.

  • The Fall Guy
  • LV101

    I asked my husband earlier before I posted re/bankruptcy and he said possibly so - asked another one same question and he said not sure - not their areas of expertise but I've heard so many of their replies re/rights of religion I can't take it! If the Catholic's were successful the WT cult will just have a cake walk.

    Thx for the new link, Fall Guy. Not sure I can stomach viewing it.

  • Vidiot
    frozen2018 - "Non-profits, including churches, can file for bankruptcy."

    I wonder how the loyalist rank-and-file would react to something like that, or if the WT leadership would even consider doing it.

    After all, is that something that's even supposed to happen to "God's Earthly Organization"?

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