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

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Radical Goodspeed said:
One thing I just noticed confirmed: Burnell Productions is a sole proprietorship. This is my favorite "business degree" failure of his. Was he too dumb or too cheap to just register an LLC?
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DSP wouldn't have registered a business at all if it wasn't for WA's business tax. That's why he only registered it in November 2017, after his "tax guy screwed him."
 
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TrophiHunter said:
To those that can't listen to the audio I uploaded it to youtube
www.youtube.com

Phil P Burnell 341 Meeting (Official Court Audio) 3/26/20

The official court audio recording of DSP's (Phil Burnell's) 341 Meeting Download the audio here ------- https://kiwifarms.net/threads/26-mar-2020-philips-34...
www.youtube.com www.youtube.com
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I don't know why I thought the 'why am I toxic?' line was edited into the original audio upload - the fact that that's actually part of the official record really tickles me.
 
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ProvenWrong said:
I don't know shit about bankruptcy or law — but claiming your gaming console(s) as part of the business and then admitting you personally buy them seems like a maaaaajor fuck up.
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Ehhh, this seems more like making sure someone else isn't doing the buying and giving him the equipment, which would change how it's viewed. If we want to go full 'tism theory on this, maybe this was asked in reference to the Switch, PS4 Pro, various games, and 4KTV he claimed was "gifted". I'm not sure he'd be able to claim them as business assets if he didn't actually buy them.
 
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ProvenWrong said:
Just got some spare time to listen to the call in more depth. When Nancy asked: “Who purchases the various gaming pieces?” Phil: “Me”. Nancy: “You personally?”.

I don't know shit about bankruptcy or law — but claiming your gaming console(s) as part of the business and then admitting you personally buy them seems like a maaaaajor fuck up.
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Well, who else would buy them? It's not like Burnell Productions can walk down to the Gamestop and pick up a game.
I mean, there are better answers - imagine if he had instead said "I buy them in my official capacity as an employee of Burnell Productions, using a debit card attached to the Burnell Productions bank account, which is used only for company business." But of course he doesn't have those things.
 
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ProvenWrong said:
Just got some spare time to listen to the call in more depth. When Nancy asked: “Who purchases the various gaming pieces?” Phil: “Me”. Nancy: “You personally?”.

I don't know shit about bankruptcy or law — but claiming your gaming console(s) as part of the business and then admitting you personally buy them seems like a maaaaajor fuck up.
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I felt it was obvious she was laying the ground work to tell dave none of the stuff he claims as business assets actually qualify as business assets. She also asked him if he had a separate bank account for his business he makes business purchases from and he said "no." I think that's when she asked him “Who purchases the various gaming pieces?” Either that or it was the other way around, but one question followed the other.
 
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actually said:
Ehhh, this seems more like making sure someone else isn't doing the buying and giving him the equipment, which would change how it's viewed. If we want to go full 'tism theory on this, maybe this was asked in reference to the Switch, PS4 Pro, various games, and 4KTV he claimed was "gifted". I'm not sure he'd be able to claim them as business assets if he didn't actually buy them.
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If Phil was smart (which we all know he isn’t), he would’ve answered those questions by saying something of the sort: “Yes, I purchased those consoles for the business and since I don’t have a purchasing department, I have to make such purchases myself.”

Of course since he doesn’t even have a business bank account where he can show such a purchase to be a legitimate business expense, it really wouldn’t amount to nothing.

So many responses given by Dark throughout this meeting gave the impression of someone with “the deer caught in headlights” look.

The level of unpreparedness and the smugness tone and voice demeanor to sound smarter than he really was, was just... shocking really.

This is a man who doesn’t understand the situation that he’s in or simply refuses to.

I would be losing sleep, skipping streaming, or just being depressed in general knowing I would be losing my house, car, and other possessions in the next few months. But he’s acting so nonchalantly, I have to assume he genuinely suffers from some form of legit mental handicap.
 
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MoonRocker said:
If Phil was smart (which we all know he isn’t), he would’ve answered those questions by saying something of the sort: “Yes, I purchased those consoles for the business and since I don’t have a purchasing department, I have to make such purchases myself.”

Of course since he doesn’t even have a business bank account where he can show such a purchase to be a legitimate business expense, it really wouldn’t amount to nothing.

So many responses given by Dark throughout this meeting gave the impression of someone with “the deer caught in headlights” look.

The level of unpreparedness and the smugness tone and voice demeanor to sound smarter than he really was, was just... shocking really.

This is a man who doesn’t understand the situation that he’s in or simply refuses to.

I would be losing sleep, skipping streaming, or just being depressed in general knowing I would be losing my house, car, and other possessions in the next few months. But he’s acting so nonchalantly, I have to assume he genuinely suffers from some form of legit mental handicap.
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my silver lining to the "personally purchased them myself", would be nancy the detractor playing semantics and saying "since they were purchased personally and not by the business, we'll be liquidating everything that was purchased personally"
 
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Sir Wesley Tailpipe said:
In all fairness to Phil, it may not have been either of those.

It may just have been laziness.
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And this laziness is now biting him hard in his fat ass. I mean how much effort is it to set up a paypal for his Business and pay his Business purchases through that? He has two already so he has some groundwork for that .
It would make Accounting so much easier (for him and any Auditor). Business Degree indeed. I mean I learned accoutning and one lesson stuck to me "Make the accoutning so that a third-party can understand it"
 
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Balr0g said:
And this laziness is now biting him hard in his fat ass. I mean how much effort is it to set up a paypal for his Business and pay his Business purchases through that? He has two already so he has some groundwork for that .
It would make Accounting so much easier (for him and any Auditor). Business Degree indeed. I mean I learned accoutning and one lesson stuck to me "Make the accoutning so that a third-party can understand it"
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It'd unfuck his taxes too. My dream is he gets audited from his bullshit tax filing and the IRS nails him on all his past business deductions.

Phil won't learn from this, though.
 
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MoonRocker said:
If Phil was smart (which we all know he isn’t), he would’ve answered those questions by saying something of the sort: “Yes, I purchased those consoles for the business and since I don’t have a purchasing department, I have to make such purchases myself.”

Of course since he doesn’t even have a business bank account where he can show such a purchase to be a legitimate business expense, it really wouldn’t amount to nothing.

So many responses given by Dark throughout this meeting gave the impression of someone with “the deer caught in headlights” look.

The level of unpreparedness and the smugness tone and voice demeanor to sound smarter than he really was, was just... shocking really.

This is a man who doesn’t understand the situation that he’s in or simply refuses to.

I would be losing sleep, skipping streaming, or just being depressed in general knowing I would be losing my house, car, and other possessions in the next few months. But he’s acting so nonchalantly, I have to assume he genuinely suffers from some form of legit mental handicap.
Click to expand...
Phil is oblivious to everything in the outside world, it's what happens when you're a narcissist hermit with no real world responsibilities. This is someone who gets the news from his stream chat, for example. If it doesn't affect him directly and immediately, he doesn't care. It shouldn't come as a surprise that Phil didn't do any preparation for the meeting and tried to pigroach his way through it. It should come as even less of a surprise that Phil thought he did nothing wrong and everything correct. Because Nancy didn't immediately lay the hammer on Phil right there and convert his 7 to a 13 or have it dismissed, he assumes everything went well. Phil doesn't see or hear anything coming despite everyone trying to warn him, reacting only after it happens when reality sets in. I'm sure if the bankruptcy takes a bad turn for Phil, we'll get an EMERGENCY stream where he violently shakes in his chair and goes on a mega rant about detractors doing this to him.
 
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actually said:
Ehhh, this seems more like making sure someone else isn't doing the buying and giving him the equipment, which would change how it's viewed. If we want to go full 'tism theory on this, maybe this was asked in reference to the Switch, PS4 Pro, various games, and 4KTV he claimed was "gifted". I'm not sure he'd be able to claim them as business assets if he didn't actually buy them.
Click to expand...

Whether they were gifted to him, or he bought them, or someone else bought them, they are just assets and right now they all belong to Nancy. There must have been some angle that Nancy was trying to play with the "you bought them personally?" question. But I can't say for sure what it is. Maybe she's establishing that these are not business expenses.

He doesn't really have "business assets", everything that belongs to the business also belongs to Phil because he is a sole proprietorship. His business is part of the bankruptcy, so his business isn't exempt from anything. He's probably claiming the "tools of the trade" exemption, which allows him to keep certain shit he uses to make money. This exemption is $10,000, so why Phil only claimed $1,500 when he clearly owns more than that is exceptional. He should have claimed the full value, because if Nancy decides his shit is worth more than he exempted on his form, it gets liquidated.
 
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I just want to bring up his insolvency again. He knew he was fucked in April of 2019 when he stopped the CT mortgage payments. Citibank troll should have used that against Phil but didn’t. So from April until October, anything used on credit should be fucking him hard right now, especially when you consider he had an extra $1000+ from not paying the CT mortgage and he was still underwater big time. Hopefully Nancy realizes this.
 
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