Ethan Preston has put together some additional in-depth analysis on the Scott Richter and OptInRealBig bankruptcies. Mr. Preston also points out some legal issues on the case, with emphasis on the asset protection issues that will present themselves (including potential preference payments), as well as the potential liability from the Microsoft case. For those less versed in bankruptcy law and restructuring procedures, it is an interesting read. Thanks Ethan.
Mr. Preston has extended his commentary with a closer look into some of the actions Microsoft is pursuing in the bankruptcy. As preference payments are the name of the game right now (determining who and what was paid and why, just prior to the filing), Microsoft is (or will) object to payments made to Scott Richter’s father (for legal representation). Mr. Preston is close to concluding that Microsoft wants nothing less than to make Scott Richter a destitute man.