PAUL MCCARTNEY’S WIFE NANCY SHEVELL'S FAMILY FIRM HAS DECLARED BANKRUPTCY AFTER RACKING UP MILLIONS IN DEBT
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PAUL MCCARTNEY’S WIFE NANCY SHEVELL'S FAMILY FIRM HAS DECLARED BANKRUPTCY AFTER RACKING UP MILLIONS IN DEBT
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Interesting. The company owes between £64m & £129m and Nancy has a £120m fortune. Okay, so that debt is basically sorted then?
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Kestrel wrote:
Interesting. The company owes between £64m & £129m and Nancy has a £120m fortune. Okay, so that debt is basically sorted then?
No, it’s the company that went bankrupt, not Nancy personally. So she can keep her money.
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Nancy R wrote:
Kestrel wrote:
Interesting. The company owes between £64m & £129m and Nancy has a £120m fortune. Okay, so that debt is basically sorted then?
No, it’s the company that went bankrupt, not Nancy personally. So she can keep her money.
This is very surprising news. Thought the trucking industry was a fairly stable one, unless railroad carriers (or lower cost competitors) have moved in to take over a lot of the business.. It must be a sad time for the family, the business was created by Nancy's father and has been an integral part of their family for a long time.
Sometimes people's wealth (on paper) is tied in to the stocks they hold in a company. Being a principal shareholder, hopefully Nancy and other Shevell family members won't lose too much when assets are liquidated.
https://www.investopedia.com/ask/answers/06/bankruptpublicfirm.asp
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Oh.....that's so sad. Not that I think he should bail them out, of course, but it's nice that Nancy has Paul to lean on for moral support.
