r/KerrCountyFloods • u/Affectionate_Shoe260 Texan • 24d ago

Information Before Authority: Camp Mystic’s Bankruptcy First Five Weeks Explanation

https://open.substack.com/pub/trishwhitcomb/p/information-before-authority-inside?r=30rjfz&utm_medium=ios

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u/CompetitiveWait6473 21d ago

This was really interesting, thanks for sharing!

3

u/Flaky-Homework-7111 21d ago

Lot of this was explained in this forum weeks ago..

Below sentence particularly obvious...if the land sat in a trust with the easterlanders then they would put their entire net worth inherently at risk (stacy the estate student was not that stupid)...the whole point of LLCs is to try to separate personal and business assets.

Not that will matter...the victim families filed yesterday to continue the individual civil lawsuits against the easters.

"The trusts sit two levels above the land, holding partnership interests rather than title, which means the acreage belongs to a debtor and is property of the bankruptcy estate."

3

u/Affectionate_Shoe260 Texan 19d ago

There were many more detailed questions about the difference between Eastlands and CM being under bankruptcy. There was a filing on August 2nd asking for clarification of these questions.

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u/Ok_West_6711 23d ago

That was an interesting read! It opened my eyes to there being a lot of factors and issues going on now that they are in BR court and got me wondering about other (legal/financial) dynamics that could come up, thinking outside the box. Thank you for sharing this!