Karl Jobst / karljobst / FAQ_GOD / simthreat / approachhernow.com - Albino autist, Spergy speed runner, Pickup predator and Bitch of Mitchell

[Pointless Debater]

Correct me if I‘m wrong but doesn‘t bankruptcy just mean that they take 50% of what you make above a certain threshold?

If there's anyone here who actually knows anything about Australian bankruptcy law then please chime in. Also remember that ChatGPT/Google Generative AI results at the top of search often "hallucinate" (a fancy term for AI bros to use to put lipstick on a pig for the fact that the AI is lying/wrong.)

This page from the Australian government states "When you become bankrupt, your trustee becomes the owner of your share of any house or property that you own. This means your trustee now has control over the property and can sell it to help pay your debts."

In practice, I don't know how that actually works in Australia actually treat that if the person only has one residence and it isn't a mansion.

The argument could be made that selling the property would help Jobst's debtors in some or full recovery and Jobst can just rent or get a new mortgage.

So if Karl made $40k / month already he will ‘only‘ make around $15-20k anymore until the bankruptcy is over and he is debt free after 3 years and 1 day in Australia.

The only person who knows what Jobst makes is Jobst himself; anything external like Socialblade is just an estimate.

Even if we assume that Jobst was making $40K AUD/mo prior to the verdict, Jobst has a lot of reputational damage from misrepresenting the nature of the lawsuit to his fans and the internet as a whole. His anti-Billy videos regularly got over a million views apiece, his latest video is at 335K after just short of two weeks (and most of the views come in the first few days for most YouTubers). His earning potential is damaged goods at this point.

 

[Gobermental Supervisor]

If there's anyone here who actually knows anything about Australian bankruptcy law then please chime in. Also remember that ChatGPT/Google Generative AI results at the top of search often "hallucinate" (a fancy term for AI bros to use to put lipstick on a pig for the fact that the AI is lying/wrong.)

The AI result for that search spit out Virginia law, so that warning is warranted.
I read the info on the Australian government website: here


I imagine that Billy demanded payment in full and immediately and Karl is filing for it because he cannot pay it all right away.
This way he can negotiate for a payment plan.

 

[Ice Gun Ninja]

The hot sauce isn't even technically the product/company his family owns. The restaurant is and the hot sauce was a side business. Based on searching around for the hot sauce on the internet it really isn't widely successful unless he's selling it as a white label thing (we give you the hot sauce and put your company branding on it).

https://www.youtube.com/watch?v=SkgNiOhVcTQ

 

[Pointless Debater]

I imagine that Billy demanded payment in full and immediately and Karl is filing for it because he cannot pay it all right away.
This way he can negotiate for a payment plan.

Yeah, a trustee will get appointed and it will streamline the process for Jobst... to some degree. He won't have law enforcement just collecting on the judgment by taking shit from Karl's house in lieu of being paid. And he won't immediately get kicked out of his house.

Without knowing anything specific on Australian bankruptcy law, my guess is Jobst is made to sell his home under the argument that he can rent or get a new mortgage. Selling the home immediately (at least, as quickly as you can find a willing buyer the home and close the sale) generates money that can be used to at least partially satisfy the judgment against him and gets whatever equity Jobst does have in the home made liquid. AU government sites do say that a trustee can sell your real estate, even jointly owned homes, to satisfy debts.

 

[Sir Baz the Intolerant]

The court ordered payments to Billy are likely not discharged in a bankruptcy.
I checked the AU government website and it said court penalties are not.
especially because they were made with reckless disregard for the truth and malice.

Christ imagine being so retarded that you manage to fuck yourself into indentured financial servitude for a man on the other side of the planet over decades old Donkey Kong drama. I would be tempted to feel sorry for Jobst if it wasn't for the fact he's an insufferably smug faggot that spent years lying and openly salivating over doing exactly the same to Mitchell.

At the end of the day he's now stuck in a bed that he himself made, and the fact he made it for someone else just adds to the irony of it all.

 

[Bionicle Enthusiast]

I had a fucking dream that Aqua Teen Hunger Force gave a promotion for Billy Mitchell's hot sauce, and all I can recall was Shake, Frylock, and Meatwad eating a hot dog with the hot sauce, and Shake had Billy's iconic beard and haircut.

I'm at a loss for words.

 

[King of Hateful Slurs]

I'm sure this has been posted 100 times but I just wanted to say Karl please never get off Discord and keep blabbing about your finances so it will be posted here.

 

[Pointless Debater]

View attachment 7360794
I'm sure this has been posted 100 times but I just wanted to say Karl please never get off Discord and keep blabbing about your finances so it will be posted here.

Last I heard he was saying the $1.8 million AUD number was wrong, but then providing nothing to contradict it and his own words + publicly available information contradicting that and supporting the 1.8 million AUD number (particularly a statement by Jobst on how much he spent on lawyers and that Billy spent more on Lawyer's fees than he did + Jobst being liable for Billy's lawyer fees).

Also he described bankruptcy as a "do over". I don't think that Jobst understands how fucked he is. Bankruptcy fucking sucks, it's not the reset button in a video game.

Bankruptcy might get the court to partially or completely dismiss the money Jobst owes his lawyers. But bankruptcy in Australia doesn't dismiss court ordered fees and costs (namely the judgment against Billy including an award amount for Billy and all of Billy's legal fees). So he's in the hole for at least a million AUD.

If his wife is a co-owner on the home then she can't do anything with the home. If his wife truly has assets that are legally distinct (and not Jobst just shuffling money around she could offer to buy out Jobst's half of the home - which the trustee only has to do at fair market value (what the home is worth if it's openly sold). If she doesn't do that or voluntarily agree to sell the home then the trustee can force sale of the home:

If all parties are not able to agree, your trustee may take legal action to proceed with the sale. If the court grants permission to sell the house, the trustee can use the proceeds to pay the sale costs. The trustee will divide any remaining money with the co-owner based on their share of ownership.

Jobst is pretty fucked. Even if a court doesn't compel sale of the home, the manner in which Jobst talks about bankruptcy is someone who doesn't understand how fucking miserable it is.

Then again this is coming from the guy who's at least $1M AUD in the hole (and probably $1.8 million) because he thinks he's smarter than everyone else and ignored basic legal advice.

 

[Corbax]

Didn't Karl say there was a contingency plan if he lost? Or did he truly believe the AI when it said he would never owe anything?

 

[Gobermental Supervisor]

I hate it even more now that the Australian bankruptcy register for private citizen requires you to pay for a search.
Annoying as hell. I understand why Billy is not publishing any documents, but it is really sad we still don't have the full case files.

His company has not filed yet (or it was not yet updated), that would be publicly available. I wonder if he has been keeping all his money and valuable in his company name and is trying to weasel his way out that way.

 

[i440BX]

His company has not filed yet (or it was not yet updated), that would be publicly available. I wonder if he has been keeping all his money and valuable in his company name and is trying to weasel his way out that way.

Karl has a company?!

 

[Professional Noticer]

Billy's claiming that Karl's filed for bankrupcy.
View attachment 7360656

https://x.com/BillyPacman/status/1922622243697230078

https://archive.ph/bRZqV

I know I'm not supposed to like Billy, because he is an actual litigious retard, but its hard not to laugh when he dunks on Jobst like this after hearing what that fucker did.
The fact that he shills his hotsauce right below the post is just hilarious.

"My enemy is bankrupt, BTW BUY MY HOTSAUCE 10% OFF LETS GOOO"

Karl has a company?!

All significantly sized Youtubers/Twitch Streamers have a company because they need to declare taxes on their earnings. You can declare taxes on the earnings as a side job but if Youtube is your main source of income, you should have a company because you are technically "self employed Content Creator". The Content Creators don't actually work for YouTube directly.

There's also a lot of benefits of having a company, for example if you buy a game and review it in a video, you can tax the game on the company and get a return at the end of the year. Same if you get an office or buy office supplies.

 

[Frankenhooker69]

Imagine losing more money than most people will earn in their lifetime because "Kong man bad."

yeah.. it sounds and it is really super retarded.

 

[Gobermental Supervisor]

Karl has a company?!

[Source]

 

[i440BX]

View attachment 7361008
[Source]

I didnt know Youtubers register companies. Always thought the taxes are managed by Youtube.

 

[Gobermental Supervisor]

I didnt know Youtubers register companies. Always thought the taxes are managed by Youtube.

You still found a company because that way you deduct everything as business expenses more easily and keep it separate from your personal taxes.
Obviously this depends on each country's legislation, but it is in general a good idea.

 

[Professional Noticer]

I didnt know Youtubers register companies. Always thought the taxes are managed by Youtube.

Youtube doesn't actually employ you directly, which is why they can ban you at any time without you being "fired".
You also don't have any obligations towards the company, you can spend a year without doing anything and them drop a video. Or you can upload everyday. Youtube doesn't care.

You never sign a contract with them saying you are an employee, just accept the terms and conditions from Google Adsense.
You just use their platform and have an agreement that any money that they earn from your videos is split between them and the creator.
It's the same with every other platform, Twitch, Kick, etc.

 

[Retink Retunk]

I didnt know Youtubers register companies. Always thought the taxes are managed by Youtube.

Registering a company is usually anywhere from twenty to a few hundred dollars and incredibly easy to do. It's less about taxes and more about protection as even landlords will often times make individual companies for each property and then put them under an umbrella so that if any one property encounters a lawsuit it can't take all of their properties down. The bad side of this is if someone does sue you, especially someone fishing for a settlement that has never even met you, you have to hire representation because it's a distinct entity from yourself and you're not licensed to practice law.

 

[Dogechu_Prime]

You still found a company because that way you deduct everything as business expenses more easily and keep it separate from your personal taxes.

Isn't this how DSP basically was able to squeeze his bankruptcy since mostly everything was declared as a "business expense"?

you have to hire representation because it's a distinct entity from yourself and you're not licensed to practice law.

NAL but if the business is an entity couldn't the owner declare bankruptcy due to lack of funds and that's the end of it? Or does the lawsuit then go over the owner(s)? I'm wondering if Billy did want to countersue (which I don't think he would want to who knows) could he file for one at the business if Karl's uploads are part of it?

 

[Gobermental Supervisor]

NAL but if the business is an entity couldn't the owner declare bankruptcy due to lack of funds and that's the end of it? Or does the lawsuit then go over the owner(s)? I'm wondering if Billy did want to countersue (which I don't think he would want to who knows) could he file for one at the business if Karl's uploads are part of it?

His company was never a party in the suit.
Karl could, technically, file for bankruptcy and the company could remain open.
But then it becomes relevant how Australian bankruptcy law views a business, in particular a PTY LTD; which is a type I am not familiar with.

If Karl is the sole owner, can its assets be seized too? That is too deep into Australian law for me to speculate, I looked for a bit, but I do not even know where to find the right statute that covers this.

I know from the business website that they made changes to the company in April and March of 2025, but its not visible what.
If Karl tried moving around assets to hide them, he won't have a lot of fun. The judge will assrape him a second time.