Saturday, February 22, 2020

Receiver Challenges Seawright Bankruptcy

Baker Donelson attorney Jon Seawright might not be able to protect himself in the bankruptcy court after all.  SEC Receiver Alysson Mills challenged his bankruptcy petition earlier this  month.  Her complaint is posted below.  Some Madison Timber porn for those following the case.

Oh, and Mr. Seawright submitted a reaffirmation agreement for his home.  It is posted below as well.





19 comments:

Anonymous said...

go to page 92. combined incomes of him and the wife about 400,000.oo$ per year and he's also peddling fraudulent investments. ask yourself, is this the kind of person the bankruptcy laws were designed to protect?

Anonymous said...

Yes, certainly @10:14. They are exactly the kind of people that the Wall St investment banks wanted to protect when they wrote the changes in bankruptcy law 15 years ago. You surely didn't think that those banks gave a GGD about working people caught up in a declining real estate market or trapped in a 400% pay day loan.

Anonymous said...

Ya know, I always look for the little things...for example, Mr. Seawright claims he only has $250.00 worth of clothes, but he owes some unknown amount to Brooks Brothers and needs $500.00 a month to clean and maintain that $250 of bought-on-credit clothes. I know lawyering and Ponziing can be dirty work, but how much does it cost to have your reputation dry-cleaned and pressed?

Anonymous said...

$700,000 in an IRA. Timberrrrrrrrrrrrr.

Anonymous said...

As I read it, the receiver argues that Seawright's debts to the investors are not dischargable in bankruptcy because his assets are tainted by fraud, defalcation, and willful/malicious harm to the creditors/investors. These allegations appear to me to be supported by the bankruptcy code and the facts of the case. In fact, Seawright apparently defalcated all over anyone who trusted him.

Anonymous said...

This could be a tip of the actual iceberg - hidden beneath the surface....

Anonymous said...

10:57 AM.......If you have a strong stomach, go back and look who got "bailed out" by GWB during the financial crisis. Hint...It was not the secretarial pool at Lehman Brothers, what an absolute con on the American taxpayer.

Anonymous said...

Link to Cliff Notes?

Macy Hanson said...

The portion of the Adversary Complaint that discusses Jon Seawright's client being saved of his or her life savings by about two days makes me shiver. Unconscionable.

Anonymous said...

Go get’em Alysson.
Popcorn at the ready.
Pucker factor for Seawright and the gang is mighty high.

Anonymous said...

I would love to know who the guy in Memphis is - who says “Baker name is in the pro column, but here are 10 concerns with everything else you said...”. He is obviously a smart guy and a straight dealer.

Anonymous said...

The problem here is one of stupidity

Before the receiver can win this she has to prove fraud....by clear and convincing evidence.

Note that the Greenville guy just walked on criminal charges which carried a slightly heavier burden.

My guess is his debts get discharged

The idea that a guy like seawrong could not know this was a scam is suspect....but.....it could be he’s just that stupid.

Anonymous said...

What about Seawright’s partner, Brent Alexander?

Anonymous said...

I believe Mr Alexander is now in the second year of chiropractic college-

Anonymous said...

"What about Seawright’s partner, Brent Alexander?"

Probably trying to decide between his chances of getting away with bankruptcy fraud (about none under the circumstances) versus going ahead and moving into the single-wide while waiting for the rest of his life to really unravel. But since he hasn't filed yet, there's nothing for anyone to contest yet.

Anonymous said...

Brent Alexander is no longer employed by Baker Donelson

BA+BDforever said...

@11:42 am, are you sure about Brent Alexander's employment status? Maybe he's not an employee but a contract lobbyist, because if one enters "Brent Alexander" in the lobbyist directory search on the SOS's website, https://www.sos.ms.gov/elec/portal/msel/page/search/portal.aspx, one will see that Brent registered Baker Donelson as a client on December 4, 2019, plus his other clients (a meager list compared to previous years.) Three of his clients are in the insurance industry, and legislative committee chairmen are actually taking meetings with Brent and client representatives. Why??? Shame on any elected official who gives credence to anything Brent's trying to peddle.

Anonymous said...

What about McHenry and civil action?

Anonymous said...

You flat biller salt(assault, too) life rednecks have short memories, but these are the guys that screwed your grandparents that were so proud you went to Oh Meeiss.

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