Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Tuesday, November 11, 2014

Widow of Charles Wyly Files Asset Valuation with Bankruptcy Court

Money BagAs I have previously discussed, Charles and Samuel Wyly were found liable for fraud in connection with an offshore trust scheme that continued for 13 years. The court ordered disgorgement to be paid. Early this month, the widow of Charles Wyly filed a list of her assets with a Dallas bankruptcy court. The list represented a $14 million gap between the value of her assets and debt. Listed in her assets were furs valued at $4 million, and two homes, one of which is worth $6.7 million. Her total asset valuation came to $67 million.

See Erik Larson, Wyly Widow Gives Bankruptcy Court Details of Homes, Furs, Bloomberg, Nov. 4, 2014.

https://lawprofessors.typepad.com/trusts_estates_prof/2014/11/widow-of-charles-wyly-files-asset-valuation-with-bankruptcy-court.html

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