best of luck Sleazy!

Interesting read.

Firstly let me state for the record , I'm not here to hate.Never had any dealings with you , met you once in Van briefly I think , had dinner with your brother. Never had a problem with you.

I do however have a couple of questions nagging at me.

How have you managed to go personally bankrupt but keep your websites?

I could see if your mainstream corp went into receivership , and the sperate corp owning yr web ventures was fine , but from what you have posted (ie yr credit cards and back taxes etc) it appears that this is a personal bankruptcy.

A personal bankruptcy would cover ALL assets surely and this would include your websites , wouldn't it?

Thanks for sharing. I am sure you will be back on your feet in no time. And fuck all the negative talkers (umm not literally unless they are hot) no one should judge you til they look in the mirror~

That's crazy. Good luck, man.

If by land partner he means the person he purchased a ton of lake front property in Manitoba that would be Jman, as they made a thread about it together.. And given that Jman has not posted in here when those two came across super tight I assume there is a fallout there.

Either way not my business.

Knowing Scott as I do I'm sure he'll bounce back quickly from this.

I can't tell you how much I appreciate you posting that, Sleazy. I've been struggling with similar issues, and unless someone has been there, they can't understand how stressful and demoralizing it is. It's humbling, to say the least.

There are certain people in the industry who most everyone looks up to in one way or another, and I'm certain you're one of them. To hear and understand that this can happen to anyone, even the guys you admire, is in a way motivating. I hate to hear you're having all the trouble, but it does help to know we're not alone. That financial hardship doesn't strike personally...sometimes shit just happens and keeps happening.

Thank you, and I wish you the best of luck, Sleazy!

Ah, bet you're right.

This is Canada not the US, you fucking idiot

i wasn't hugly successful with the bar, I was profitable. Drunks THINK when they see people drinking you're hugly successful. Big difference.

and yes, I saw the gun, too many people told me they were now going to bring guns, it went out of anything I could controll so I pulled the plug

This is fucked....It's like being one of the first prospectors to arrive in California during the gold rush of 1849....You get there and stake a big claim and haul in big chunks of gold...You then have a nice operation going and you leave to start an oil company...

Then the oil men eat you alive and all of that inital gold rush money is now gone.....Then after all of that, having to go back to California to find a new way to pan for gold....Except that the gold rush is already over....

Sleazy, if I were you, I would do what I said to do years ago and that's MOVE THE FUCK OUTTA CANADA!!. I don't see a reason for remaining in a cold climate all alone.....And now that the house is gone and the good friend is gone, pack up skufty and hit Panama or Belize....Then you can get you a nice native girl and pop out some kids while living cheaply in another country.

That's at least what I'M gonna do.

Sleazy,

How did you retain ownership in your sites and corporations through bankruptcy?

Very interested in the answer to this question. I always thought ownership in your companies went when you filed for bankruptcy as they're assets?

went though that with the trustee, and it's his call and he's already made it..

He told me he looked at as similar to a real estate agents client list - salable with consent but this is my chosen business and I'd rip everything I could out of the site if it was sold without my consent and I could legally do that too so they figured they'd make more money for my creditors garnishing my wages while in bankruptcy than selling it and having me attack it and ending up in legal battles. The site employs a lot of people, dumping it would put them all in financial trouble as well. So basically they give me a salary to live on and the trustee takes the profit from it, and in two years who knows what it'll be worth so there's a meeting then and probably a settlement. If they sell it it would have to go into trust for months with all the legal stuff around it and that would kill all the traffic and value. Yes there would still be some value, but after discussion and a lot of looking into they felt there's more if I work it and they take the excess. So the simple answer is I'm working for the bankrupsy trustee lol

I just asked that!! Scroll up LOL

;)

hey - would you like to do an ambush interview?

Ahhh Makes sense.

Thanks for your honest and succinct answer. :)

hehe yeah this thread moves faster than I read apparently.. I had already asked before you on page 3, but got no response so I was asking again.

So nyah! :)

Thanks for the answer Sleazy. So the long and the short of it is you were a bit of an observer with heckling powers as it turned out for that portion.

Good analogy..been mentioned before to me by Serge Oprano.

And here is where all of us fucked up by not studying history......


The people who made fortunes , real fortunes, which they kept in the gold rush were not the prospectors.(Webmasters)

It was the bankers (epoch,ccbill) the hotel keepers (National net) ..etc etc...

;)

looks like you really got fucked on the improvements if you spent that much. it looks nice, but doesnt look like a nice club. i would say it looks like a nice finished basement at best.

Shit. LOL

My apologies.

But we both got an answer in the end ;)

IMHO a good un too.

Thanks for asking but I don't want these GFY tools all up in my business. :)

Keep us posted please.

Crazy story, least you got porn to lean on :)

I was curious, if the previous bar tenant was evicted, why did it take 300k in renovations to bring it back up, did they trash the place upon eviction?

hate to hear it. happens way to often.

What a fucking Pussy,
Do the fucking interview :2 cents:

Not always - http://en.wikipedia.org/wiki/Cecil_Rhodes. And there is a huge list of oil guys.

You survived and you're still here. You know who your real friends are, what is really important and won't ever make the same mistakes twice. I'm proud of you.

Friends till the end through up, down, sideways, backwards.

All my best,

Brad

I only read a page and a half, and I'm laughing my ass off at all the keyboard warriors telling Sleazy he should have done this that or the other thing....with their 20/20 hindsight.

Meanwhile, most of the people mouthing off don't have two nickels of their own to rub together. A big part of business is knowing when to fish, and when to cut bait.

Hey Scott, sorry to hear this happened, and sorry you had to share it publicly because some asshole was trying to hold it over your head.

FWIW, here is a list of some notable people who have filed for bankruptcy.
Walt Disney
William C. Durant (founder of GM)
PT Barnum (before he started the circus)
Ulysses S. Grant
Milton Snavely Hershey (his first 4 candy companies failed)
Abraham Lincoln
Thomas Paine
Rembrandt
Donald Trump
Mark Twain
Oscar Wilde
Henry Ford (First two car companies failed)
HJ Heinz

To make it in business you have to take some risks. Most of the idiots sniping in this thread haven't even taken the "risk" of moving out of their parent's house yet. :2 cents:

Sad story Scott but you'll pull through.


My first question though is why didn't you incorporate a company and put the bar under your its name? That way if it went bankrupt, you would not have been personnaly liable and wouldn't have lost all of your personnal stuff.

I've never incorporated a company myself, so I might be dead wrong on this...

Clubs are tough animals. I managed bars and ran clubs for 12 years before I came into adult. If you need anything let me know. I'll do my best to help you out. Buy some ads, traffic, etc.

I am sorry to read that Scott. It is horrible that you posted all of this because an asshole with to much time on his hands was threatening you. :(

i did, loans were liable personally though

That was a great analogy..

You took a risk in trying to expand your business, you just picked something you didn't have enough experience in plus sounds like you got shafted some. With hard work you should be able to rebound in some manner. Good luck.

I'm soooo sorry Scott!!!!! I haven't been on gfy much at all in awhile but I heard about this thread and had to come look. I wish you the best! You really should out this moron that was trying to blackmail you! I'm guessing since you are such a nice guy, you won't.....but think about it! He deserves it!!!!!! I wish you nothing but the best! :)

This is why you never associate with drug addicts much less do business with them.

I don't know if it's been the recession or what, but there has been a lot of old timers who have gone broke. Not just small board names, but people who had major sites and major programs. It seems like every other day I'm hearing about someone who was making mad cash 5 years ago not being able to cover their rent.

Well no matter if it ended up this or other way - that's business and kudos to anyone who's not afraid to risk.

I'm sure everything will work out well, wishing more successful adventures in the future.

Didn't read the thread (it's on friggin' page 6 already)...

Anyway, a few pearls of wisdom:

Nothing ventured, nothing gained...

Winners never quit, and quitters never win...

La dee la dee, la dee la da dah, la dee la da dah!!!

http://www.laughparty.com/funny-pict...ck-Sign-71.jpg

ADG

Dude, I went there last year and fell in love with it....I went again this past May and I will be going again in September for the little Carnival that they have on the island....The only reason that I haven't moved is because I have small children and can't officially move until my youngest child turns 12 in 6 years...Then I can leave...So I will be purchasing property within two years and will start to build...They have beachfront lots for CHEAP down there...some as cheap as 1,700 an acre....

Why spend hundreds of thousands of dollars for a bar in cold ass Canada when you can go to Central America and serve beer and rum at your own rustic beach shack bar?....Why spend years in a cold lonely place by yourself when you can be enjoying hot weather and rubbing on fine toned bodies?....I just don't see it....

Sleazy could be doing what I do when I'm down there.



I have no desire to talk about my business openly like that...I believe that I would jinx myself.....Therefore, I will remain an UN-Jinxed Pussy :2 cents:

Damn that really sounds like heaven :thumbsup

Easy come easy go--- fuck it thats life

The very worst thing to do is dwell on it and set goals based on it .. Just bust your ass again and rebound

Theres still plenty of money in porn:2 cents:

I've always heard that too, the guys who really made out sold the pans, picks, shovels, etc......

No shit.

Quite the story man damn

You will be back on top in no time.

I'll say this much, filing bankruptcy today doesn't come with the stigma and shame it once did. It's a setback, only. In fact it can sometimes be a major pain reliever. I've known several who have filed for it over the years, all of them are back in the game and surviving just fine, you will too I'm sure.

I would however avoid like the plague any future ongoing debt arrangments that come with a 30% interest rate attached.

Oh shit! :(

So sorry to heard that man... Don't get depress I'm sure you will be back on your feet soon :) Stay positive!! :)

Send you ton's of good vibrations from Montreal :) xxx

Best of Luck SD :)

sad shit