No wonder he refused to Happy Halloween Party Dance Night Shirt move his businesses into a blind trust. The trustees would have been obliged to blow the whistle on him. And as many have pointed out, you can’t transfer into a blind trust. If you’ve given personal guarantees because the whole point of a personal guarantee is you can’t transfer responsibility for it. You’d have to get those personal guarantees dealt with first. And the most common way to do that is to either pay off the loans or talk. The creditors into refinancing them directly against the business without a personal guarantee.
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But if the Happy Halloween Party Dance Night Shirt business is borderline insolvent, there’s no way they’re going to do that. Don’t forget why we still haven’t seen his tax returns like he promised (yes some good journalism might have found it but he didn’t release it like he said he would)- and is still clinging to the audit line that has been proven to be BS. It would also have been impossible to unwind if it was insolvent. You can’t diversify a portfolio with negative book value. There’s no way to move a business into a blind trust that relies on personal loan guarantees, which cannot otherwise be transferred or paid off.
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