re: #17 Dr Lizardo

….

I’d wager he is broke on paper. At some point, his lenders are going to say, “Enough!” and call in his outstanding debts because of his well-established patterns of deception and fraud. And at that point he will be broke - and not just on paper.

all of that previous stuff is just contributory

it’s the implication of this last part that’s been glossed over for years

because he focuses (and makes everyone else focus) on ‘value’ of the stuff he owns. and how big that number is.

for the most part, it’s meaningless by itself.
you have to know the encumbrances, liabilities, loans, liens etc, to have the full picture. assets as well as liabilities.

he’s not ‘broke on paper’. he’s broke. i’d venture has been for a long time.

when the assets are mostly fixed / real estate, not much cash, and the value exceeds liabilities, you have no net worth (equity), you’re broke.
if you cant meet the liabilities that are coming due, you’re insolvent.
and if you cant find any new sources of revenue or financing, you’re done.

there’s no new revenue stream to tap or create

campaign fundraising isnt enough to cover the judgments. never could. plus it’s going to legal fees anyway.

and no one wants to loan him anything.

this is not ‘paper’ broke.
this is broke.