[26-Mar-2020] Philip's 341 Creditor Meeting - When what should be 5 minutes becomes an eternity.

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Mr.PiggyOinkOinkOink said:
I mean he can’t force phil to break down the expenses, and he had Nancy kinda telling him to stop. Nancy said it was personal bankruptcy so all his expenses were wrapped up into that(at least that’s how I understood what she said, I’m probably wrong)
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Does that apply even if he's asking about the business side?
 
I wonder if Nancy James realizes that there's some serious fuckery going on with his paypals and that's why she wants to see six months of transactions.

Did she notice that his forms claim his Paypal only had 500$-1500$ and see Streamlabs in his Paypal forms? Could Dave be editing the transaction history?

A sped has no doubt took it upon himself to send the tips breakdown from @actually already. I wonder if she knows he's making five figures a month. I think Our Patron Saint of Trustee's smells blood in the water.
 
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I liked when Phil lied and said he had read his bankruptcy filing when multiple times on his stream he shouted at people that he neither filled out nor read his bankruptcy filing, "it's 50 fucking pages dood!"

I don't think Phil or his clownshoes lawyer even realized almost all the questions the trustee was asking was shit they blatantly fucked up or didn't fill out that they needed to, like:
  • What kind of business do you have? (because you left that part blank)
  • Are you married? (because you left the part where you identify who your spouse is blank)
  • Is your residence a house or a condo? (because I had to hunt down your full mailing address and noticed it's a condo, not a house like you said)
  • You say you own no electronics? (here is your opportunity to stop lying about your personal property assests)
  • What is WWE Network? (it's a non-business subscription you still maintain despite claiming insolvency)
  • etc.
 
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When Nancy was grilling Phil about the CT Kahndo she asked when was the last payment he made on it and shut his lawyer down when she tried to go to the paperwork and said she wanted his recollection on the matter. Could that line of questioning point to when he knew he was going to be insolvent?

I am sure she knows about the foreclosure that was filed in December and that shows he hasn't been paying since April like he said he was going to do when he came back Married with a 10 year plan and Mommies money.

Later in the call when Eills asks Phil when did he know he needed to file. Phil was completely confused and tried to say October and finally admitted that it was in the middle of 2019.(April)

Phil showed with that statement that he knew he was going bankrupt and he needed the CT Kahndo to be foreclosed or short saled and that it was his only out in April. He used his Credit cards on thousands of dollars in expenses for business and "bills" and groceries for 6 damn months before he went to an attorney who told him to freeze all lines of credit. Phil is thinking he is magical making 5k of expenses a month from April 2019 - October 2019 vanish.

Ellis followed it up with another dagger 🗡 asking Phil to explain how he has $5000 in expenses a month. Phil panicking tried to deflect by saying he already talked about business expenses ($1,500 a month and how the hell he hits that number monthly is even absurd). Ellis pressed again for and explanation of the overall $5,000 to be itemized and Phil and the lawyer deflect again saying they explained it already which they didn't explain $3,500 in expenses a month from October on.

TL;DR Phil knew Bankruptcy was coming as early as April 2019. He used his Credit cards from April-Oct. $5,000 a month $30,000 overall in that time. And he continued that $5k and $1,500 of that is for his business. Reaching that in overall expenses a month is crazy.
 
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Proper Pangolin said:
TL;DR Phil knew Bankruptcy was coming as early as April 2019. He used his Credit cards from April-Oct. $5,000 a month $30,000 overall in that time. And he continued that $5k and $1,500 of that is for his business. Reaching that in overall expenses a month is crazy.
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Phil knew he was insolvent as early as April 2019? I'm pretty sure he has known for years seeing how he was telling his audience he needed thousands of dollars fast or he would lose his house. He knew since his bank account was overdrawn every month for the last two years. It was obvious he was screwed when emerald7 gave him almost $20 grand and it didn't even put a dent in his debt and he was begging for more days later. He knew he was never going to pay off his debt for years. He is just pretending he figured it out in April 2019.
 
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Homersexual said:
On the topic of micro transactions as a business expense. Has he ever bought a micro transaction on a game he has streamed since Hearthstone?
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If anything, he shits on MTX every chance he gets. He was obviously lying about the mtx part to cover up for his WWE champions, which should be easy to prove when she gets his Paypal records
 
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He threw in microtransactions as a half assed way to protect his WWE Champions spending.

Thing is, never once streaming the game, and playing on a device (his phone) which has nothing to do with his business, it doesn’t matter. You can’t claim at this point $50,000+ in MTXs for a game you actively try to hide and have never streamed.

What the court needs to do is ask for months/years of ITunes records. Every Scopely payment should go through his iTunes account so that would be the ultimate record of his spending. i say years because his gatcha spending has been ongoing and it would go to show that he has a very sad gambling addiction to mobile games.
 
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AnOminous said:
I think he just straight up made up a number out of thin air for all his "expenses." I don't think he's even claiming specific made up things. He just claimed a number.
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Judge: Mr. Burnell, before the creditors may ask you some questions and I afterwards decide about your application for bankruptcy, I would like to ask you some questions concerning the list of business expenses you provided us as requested.
Pig: Of course, Sir.
Judge: Mr. Burnell, you claim business expenses for a car for a business you do from home to my understanding. Would you mind to explain that?
Pig: With pleasure Sir. As you know I produce quality internet streaming content an a quasi daily basis. This means I need a constant new income of new assets like games for example to maintain my business. To buy these assets at local shops as I want to support the local economy, I need a car, because I cannot use public transport because of a severe back injury. So this car is only used for business purposes, thus a business expense. Of course all peripheral costs like gas, insurance, taxes are therefore also business expenses.
Judge: That's... original. But let's go on for the moment. You claim a specific amount of money needed every month for... groceries? Do you care to elaborate?
Pig: Your honor, I produce high quality internet streaming content on a nearly daily basis. This means I literally have an 18 hour day, sometimes even on my non streaming day. You surely understand that I have to eat while I create my quality content do you? And sometimes time is such an issue, that I have to order food to save time, because I don't have time. Thus my groceries are a business expense.
Judge (baffled): Mr. Burnell! Among other things, you claimed soap and toiletpaper as business paper, er, expenses!
Pig (rolls eyes): Yes Sir. I mean you surely understand that I have to shower sometimes? I mean, people see me on stream, ok? I cannot appear like a homeless bum to them or I lose my audience, alright? And sometimes I need to take a sh break and use the bath during stream as I don't have the time otherwise. Therefore these things are clearly business expenses. I am sure you'll agree to that.
Judge (now visibly angered): And a monthly supply of sixteen bottles of gin? And a... a BRAZZERS ACCOUNT!? HOW DO... How do you claim these as business expenses.
Pig (deep sigh): Your honor. I produce high quality internet streaming content on a per se daily basis at a rate of approximately eighteen hours a day. I need to vent myself sometimes. To relax a bit, if even just for seconds. Can't you see that I need to relieve myself sometimes under these harsh conditions? And that's all because of my hard job, thus these things are business expenses too.
Judge (snarky): Well, I am really surprised that you did not state your bed as a business expense for recreation from your hard job.
Pig (smugly): No, of course not your honor, that would be not ok as I have done that through my tax declaration already. Now, if you would be so kind to look at page five of my list of business related costs, specific line sixteen to twentytwo, you'll see that I have declared my mortgage as business expense, as I need a space to produce, stream, cut, upload and store my high quality internet streaming content and assets, so I use an adequate environment of course. Therefore I claim...
Judge (reaches for his shotgun)
 
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DZoomer said:
One thing I didn't see anyone mentioning regarding the Citibank guy: when asked about what he did there, he said he "worked in Collections".

If he has truly bought the debt, then why did he lie about being a representative of the bank?
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idk, I feel like citi bank would've filed something to say his debt was transferred, like how we saw with midfirst when they took over the CT mortgage, unless they just didn't give a shit
 
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Genie The Hedgehog said:
I just want to point out the best thing that could happen for @nohandsboi in this whole thing: Personally holding DSP to the fire and shaking loose the shekels they're owed as the Wakhando burns. This would be the DSP equivalent of owning one of Chris's medallions except this is like 13k in USD and not an autistic man's clay necklace.
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I'd say it's more like the stamp guy buying the internet lumberjack's inherited collection of UN stamps or the Pokemon card buyer but yes, legitimate capitalist activity beats minor fail relic collection even if the hand numbered run is supposed to be limited for crayola fucking model magic.

Everyone who keeps saying the Champions transactions have never been streamed and shouldn't count is forgetting Phil has admitted in ask the king streams to playing it, that's what he's going to say qualifies it as a legit expense to reduce his income. I didn't say he's right, just that's where he's going to try and shelter the expense into the cost of doing business, offhand vlog mentions once every few years or bait contribution replies where he dances on the edge of the subject like he has since the filing went up to the public.
 
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Phil's Nintendo Switch is solely used for business related streaming services.

I wonder why his wife has a user profile set up on it. I haven't seen Kat on stream since 10-31-2018.

It's almost like the Switch is being used for personal entertainment and not just for business related functions.
 
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