[16-Jan-2020] DarksydePhil is filing for bankruptcy (general thread) - and has officially done so on January 31 2020, meaning a lot of his finances have become public

[Gotta Groom Em All]

Hopefully for him everything in his application is accurate

To me that's the best thing about this, it's impossible for everything in his application to be accurate as a number of things in the application directly contradict other things in the application. He owns a business, but he also doesn't own a business. He doesn't have a pet, but he also does have a pet.

I'll admit, I admire his balls. I wouldn't have the balls to try and take the banks and the government for a ride like that.

 

[DarkSoulsPhil]

Protip Dave

There are certain people you never ever lie to

1. Your husband/wife (for obvious reasons)
2. Your doctor (so they can treat you)
3. Your lawyer (which ties into the next group)
4. The government (which includes the IRS, Armed Forces, Police and the Judiciary etc)

That last one is a big one because just about any lie to them will land you in deep shit.

Guess what you did Dave? You lied to the wrong people. I dont know about your doctor, but you certainly did to the rest.

You're fucked.

 

[AnOminous]

To me that's the best thing about this, it's impossible for everything in his application to be accurate as a number of things in the application directly contradict other things in the application. He owns a business, but he also doesn't own a business. He doesn't have a pet, but he also does have a pet.

I'll admit, I admire his balls. I wouldn't have the balls to try and take the banks and the government for a ride like that.

The lies are just amazing really. Why the fuck would he lie about having a cat? It doesn't even make sense.

 

[Schmeckel]

The lies are just amazing really. Why the fuck would he lie about having a cat? It doesn't even make sense.

It wasn't MY cat, it was my then girlfriend's cat. And it was before we were married, so it's still her cat, it just lives in my gout palace and chews on my, er... My wife's electronics equipment that happens to be in my office where I shtreem....

Judge: Get the fuck out of here.

 

[Authentic Sauce]

For all the inaccuracies in the documents there are really only two things that are going to matter here. The 5k of monthly business expenses and the value of the Wakando.

If the value of the Wakando gets looked into by the trustee and he crosses that 125k of equity it's bye bye gout palace.

The 5k of business expenses could turn this from a chapter 7 into a 13. If Phil gets a chap 13 payment plan he will fail it and the next 5 years of his life are going to suck real bad even if he is able to complete it. I am beyond curious how streaming can be done by countless children for no cost at all and somehow Phil manages to make it cost 5k a month just to keep the lights on.

People should not get too excited about the thought of the creditors showing up to his meeting of the creditors and asking questions. Creditors never show up to these things and they are very limited in what they can ask. If the creditors do anything it will be filings. The trustee is going to be the only person asking Phil any questions at the meeting of the creditors.

 

[Gotta Groom Em All]

The lies are just amazing really. Why the fuck would he lie about having a cat? It doesn't even make sense.

The cat thing is just baffling. What could he possibly gain by lying about that? My brain hurts from trying to figure it out.

 

[behind_the_scenes_begging]

For all the inaccuracies in the documents there are really only two things that are going to matter here. The 5k of monthly business expenses and the value of the Wakando.

If the value of the Wakando gets looked into by the trustee and he crosses that 125k of equity it's bye bye gout palace.

The 5k of business expenses could turn this from a chapter 7 into a 13. If Phil gets a chap 13 payment plan he will fail it and the next 5 years of his life are going to suck real bad even if he is able to complete it. I am beyond curious how streaming can be done by countless children for no cost at all and somehow Phil manages to make it cost 5k a month just to keep the lights on.

People should not get too excited about the thought of the creditors showing up to his meeting of the creditors and asking questions. Creditors never show up to these things and they are very limited in what they can ask. If the creditors do anything it will be filings. The trustee is going to be the only person asking Phil any questions at the meeting of the creditors.

I'm not sure about that - if our boy perjures himself he could lose more than the Wakhando

 

[Martys_not_smarty]

For all the inaccuracies in the documents there are really only two things that are going to matter here. The 5k of monthly business expenses and the value of the Wakando.

If the value of the Wakando gets looked into by the trustee and he crosses that 125k of equity it's bye bye gout palace.

The 5k of business expenses could turn this from a chapter 7 into a 13. If Phil gets a chap 13 payment plan he will fail it and the next 5 years of his life are going to suck real bad even if he is able to complete it. I am beyond curious how streaming can be done by countless children for no cost at all and somehow Phil manages to make it cost 5k a month just to keep the lights on.

People should not get too excited about the thought of the creditors showing up to his meeting of the creditors and asking questions. Creditors never show up to these things and they are very limited in what they can ask. If the creditors do anything it will be filings. The trustee is going to be the only person asking Phil any questions at the meeting of the creditors.

So long as it's someone on the other side going "so what is it exactly that you do?" and it gets transcribed for public access then that's all that matters.

 

[Cuckoman]

The lies are just amazing really. Why the fuck would he lie about having a cat? It doesn't even make sense.

Maybe he added those obvious and non-consequential lies as a red-herring ? So the court would look at them and be confused instead of asking questions about those 5k$/month business expenses?

Or maybe he is just a retard, does not realize the importance of the situation and couldn't care less, hell he has WWE games to play, no time to waste filling in those bullshit forms.

 

[tzgnilki]

For all the inaccuracies in the documents there are really only two things that are going to matter here. The 5k of monthly business expenses and the value of the Wakando.

If the value of the Wakando gets looked into by the trustee and he crosses that 125k of equity it's bye bye gout palace.

The 5k of business expenses could turn this from a chapter 7 into a 13. If Phil gets a chap 13 payment plan he will fail it and the next 5 years of his life are going to suck real bad even if he is able to complete it. I am beyond curious how streaming can be done by countless children for no cost at all and somehow Phil manages to make it cost 5k a month just to keep the lights on.

People should not get too excited about the thought of the creditors showing up to his meeting of the creditors and asking questions. Creditors never show up to these things and they are very limited in what they can ask. If the creditors do anything it will be filings. The trustee is going to be the only person asking Phil any questions at the meeting of the creditors.

i'm hoping the meeting is transcribed and we can request the minutes

 

[Cuckoman]

I'm not sure about that - if our boy perjures himself he could lose more than the Wakhando

People perjure themselves every day in court.
As long as the assets are there and the creditors will be able to claim them then no one really cares or even have the urge to spend time and money to go after him for perjury or attempted fraud.

Why should a creditor spend money on a lawyer trying to go after him for perjury? Will that bring them the money owed back? Which is the only thing that matters,

If he had been caught trying to play a game of "hide the assets" then that is a whole new ballgame but that is not happening here afaict.

 

[King Daddy Telomerase]

The cat thing is just baffling. What could he possibly gain by lying about that? My brain hurts from trying to figure it out.

I think it's because Phil doesn't take this seriously and wants to get it done with. And I'm only half joking with this... he probably did this with his female lawyer, he wasn't wearing his NERD glasses to see her and thus struggled to read the finer print like the cat part.

 

[Gotta Groom Em All]

I think it's because Phil doesn't take this seriously and wants to get it done with. And I'm only half joking with this... he probably did this with his female lawyer, he wasn't wearing his NERD glasses to see her and thus struggled to read the finer print like the cat part.

I could actually see that. Just him sitting there autisticly bee laughing wondering how long this bankruptcy bullshit was gonna take so he can get rid of his debt and get back to rolling for rasslers.

Also, I might be late on this but I haven't seen anyone post it yet, so here's the black man's most recent video on the topic:

DSP's Bankruptcy Documents Go Public. Hilarity Ensues

https://www.courtlistener.com/docket/16790556/philip-p-burnell/ https://www.youtube.com/watch?v=h9IP9YXTmgk Twitter 🐦- @DjChiszle If you want to cop the seas...

youtu.be

 

[behind_the_scenes_begging]

perjury isn't about the creditors - you're right the creditors probably couldn't care less and would be used to it. Perjury is a crime, a breach of the law separate to any dispute between parties. It's a really serious crime because it undermines the justice system itself. Courts in particular hate it. If he committed perjury it would probably be a (new) police matter distinct from bankruptcy proceedings.

If DSP has identified any glaring inaccuracies which would be obvious to the court since submitting the statement, he would be wise to correct it. There's probably some way to do an addendum.

I agree with others who have said that it appears like he's not treating the process with the seriousness it warrants. Maybe it's that ego, meaning can't seek good advice from people he can trust, or when given good advice he rejects it out of hand because it doesn't suit him?

 

[Kaede Did Nothing Wrong]

sorry I'm late but lmfao at 5k business expenses. $60,000 a year to record himself sitting on a sofa. the first lawyer to confront dsp is going to have him sweating like an ace attorney character.

 

[Schmeckel]

If he had been caught trying to hide the assets then that is a whole new ballgame

That seems to be EXACTLY what he is doing (and will get caught). Electronics and collectibles ARE assets, even if they don't have much value or wind up exempt. He claims to have none of those. And yet, one could easily pull up any one of his shtreems or videos (hell, go on an old house tour... Look at his post-nuptials picture of him watching wrasslin on TV because life is good) and you'll easily be able to see that he is lying about assets. Fuck, all a judge has to ask is "how do you stream content to the internet if you don't have electronics?" and then sit back and enjoy the mental gymnastics.

Edit: Not to mention not listing his PayPal account where he'll have to answer where the money from tips that he receives goes to.

 

[Cuckoman]

That seems to be EXACTLY what he is doing (and will get caught). Electronics and collectibles ARE assets, even if they don't have much value or wind up exempt. He claims to have none of those. And yet, one could easily pull up any one of his shtreems or videos (hell, go on an old house tour... Look at his post-nuptials picture of him watching wrasslin on TV because life is good) and you'll easily be able to see that he is lying about assets. Fuck, all a judge has to ask is "how do you stream content to the internet if you don't have electronics?" and then sit back and enjoy the mental gymnastics.

Praise the sun btw fellow dark souler.

I don't think they will care much about old electronics or non-collector quality gaming memorabilia.
I think this electronics and statues are probably worth less than cents to the dollar and, would they they even collect 1000$ all in all if you had to sell it on short notice or auction?
It looks like the man has to find a way to pay off about 200k$ in debt. No one will care about how many spiderman statues he has in his closet or that he has some 3 year old consumer grade laptop.

It is probably not even worth the effort to send someone over there to itemize all the worthless junk he has and list it.
Car, two properties. That is where all his reasonable assets are. They will let him keep all his statues and other worthless junk since it would be too expensive to even try get a valuation done on them.

I.e. the assets as far as I can tell is the car, two properties, and approximately 1000$ in bank accounts. Everything else is worthless junk. So I don't think he tries to hide any of it.

EDIT: regardless of what kind of bancrputcy happens, he is going to be allowed to keep all of his gaming memorabilia. Because it is worthless junk.

 

[Schmeckel]

Praise the sun btw fellow dark souler.

I don't think they will care much about old electronics or non-collector quality gaming memorabilia.
I think this electronics and statues are probably worth less than cents to the dollar and, would they they even collect 1000$ all in all if you had to sell it on short notice or auction?
It looks like the man has to find a way to pay off about 200k$ in debt. No one will care about how many spiderman statues he has in his closet or that he has some 3 year old consumer grade laptop.

It is probably not even worth the effort to send someone over there to itemize all the worthless junk he has and list it.
Car, two properties. That is where all his reasonable assets are. They will let him keep all his statues and other worthless junk since it would be too expensive to even try get a valuation done on them.

I.e. the assets as far as I can tell is the car, two properties, and approximately 1000$ in bank accounts. Everything else is worthless junk. So I don't think he tries to hide any of it.

If only I could be so grossly incandescent.

I don't disagree that the shit that he has would be considered worthless, or nowhere worth the effort it would take to actually sell the stuff, but he's still not disclosing that he has those things. Like the ps4pro he just got, the brand new (really cheap anyhow) 4k TV, etc. They'll ask about the acquisition time frame before they make a total determination on that. Even if none of it is worth a damn, they'll definitely dig deeper once he fesses up. "What else is he hiding? You better show us EVERYTHING."

 

[Cuckoman]

If only I could be so incandescent.

I don't disagree that the shit that he has would be considered worthless, or nowhere worth the effort it would take to actually sell the stuff, but he's still not disclosing that he has those things. Like the ps4pro he just got, the brand new (really cheap anyhow) 4k TV, etc. They'll ask about the acquisition time frame before they make a total determination on that. Even if none of it is worth a damn, they'll definitely dig deeper once he fesses up. "What else is he hiding? You better show us EVERYTHING."

They/court/trustee will quickly see that any actual assets worth anything is
1, car
2, properties
3, 1000$ in the bank

Sure they can dig deeper. But that costs money and there is so little left to recover.
They can pay a court enforcer 200$ per hour to go over there and check his PS4, take it and sell it to GameStop for 90$.
But it would be pointless.

I think the cost to recover and re-sell these low value items are so much higher than the value that they can reclaim that there is no point in even trying.
Spend 200$ to re-posses and re-sell a PS4 that just brings in 90$ ?


Sure, you could go and claim all the items as extra punishment but it would cost more than the value of the items.
Who will carry that cost?

 

[Gotta Groom Em All]

Epic rant just now on the stream, holy shit. To summarize:

There might be some discrepancies, but it's okay because it's not that big of a deal to lie on that form. But everything on that form is 100% truthful and correct, my attorney said so. But if not it's fine, because if they find discrepancies, nobody's ever been to jail for this and I can't be charged with perjury for lying on that form, even though it says so. Do you idiots really think my lawyer would risk going to jail over this? But nobody would ever go to jail for this. But I didn't lie because there's no discrepancies on that form. But there are discrepancies, and I called my attorney just now on a sunday evening to verify that everything's fine and they told me everything's fine. So these people out there are all lying idiots.

tldr: "and by the way..." "... my attorney agrees with me."