Jack Johnson Bankrupt

[no name]

why? it was his mom taking out a $15M line of credit against his future earnings, not owning several hundred thousand dollars worth of cars that caused this.

This is what gets me... got a loan for 15m??? this is nuts. Why would you need 15m at your disposal. They must of thought it would never run out. Crazy.

[FLPensFan]

So, it appears Johnson's parents are just money grubbing whores. Now reported that they also screwed over Johnson's grandfather by transferring ownership of his Vegas condo, and using it for collateral.....

http://deadspin.com/sources-jack-johnso ... socialflow

[Sarcastic]

Jack and his brother better get used to the idea they don't have parents. If I were Jack, I'd take his brother in when he turns 18, pay for his school, etc..

[Jim]

Is there a way for him to cut all legal ties to them?

[KG]

Wow! that's some story...

Less then $50,000 in assets and $15Million in debt!

[Idoit40fans]

Is there a way for him to cut all legal ties to them?

Isnt that done by turning 18?

[no name]

Wow! that's some story...

Less then $50,000 in assets and $15Million in debt!

That's crazy!!!!! Unless you are buying $5000 in services everyday, spa trips and things how do you not have assets to show for the money you spent???? If you buy cars and houses you should have something to show for it. Unless they bought it for people and just gave the money away.

[Pruezy11881]

http://www.tsn.ca/bankrupt-nhler-in-fig ... e-1.441730" onclick="window.open(this.href);return false;

Parents still come off as scum to me.