Eyman assets to be sold to satisfy $5M million debt
Initiative promoter Tim Eyman, who earlier this year was found liable for years of violations of Washington’s campaign finance laws and owes the state more than $5 million, is facing the court-ordered sale of his assets.
Eyman is required to make monthly $10,000 payments to pay down his fine and other fees. He has missed his last four monthly payments.
The Seattle Times reports a U.S. bankruptcy judge last week found Eyman in default and ordered his bankruptcy case shifted from Chapter 11 to Chapter 7. Chapter 7 means the court appoints a trustee who will be responsible for selling Eyman’s assets and distributing the proceeds to his debtors, primarily the state of Washington.
Eyman filed for bankruptcy three years ago, saying at the time that Attorney General Bob Ferguson’s lawsuit against him, accusing him of the campaign finance violations, had crippled his finances.
https://www.msn.com/en-us/money/other/eyman-assets-to-be-sold-to-satisfy-dollar5m-million-debt/ar-AAS6IPr
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