follow with Tom Girardi and by Erika Jayne legal setbacks are hard work because rarely a day goes by without one of them being involved in something new. If the sun is in the sky, then you can count on Erika and Tom to be named in a new lawsuit or legal action. One day you hear that a case is being dismissed, then the next day, surprise! It’s being filed in another state. Now, the latest detail emerging in this never-ending saga involves the seizure of Tom Girardi’s life insurance policies in an attempt to recover some of the millions of dollars he owes.
According to a report by Speed cameras onlinethe trustee on by Tom The bankruptcy filing has asked the courts to seize the 82-year-old’s insurance policies in exchange for cash. Apparently there are two life insurance policies up for grabs, one for $36,848.41 and another for $48,493.45.
Online speed camera The report says the insurance company that holds the policies has already agreed to release the funds once the judge approves it. So once it’s signed, they’ll use the life insurance money to pay by Tom huge debt.
In total, they get $85,341.86 from the seizure by Tom life insurance. That’s a lot of money for the average Joe, but for the “rich people” it’s not a lot. Think about it. This money would barely cover two months of by Erika glamorous for The Real Housewives of Beverly Hillsand it’s not even calculated for inflation.
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That life insurance money also doesn’t seem like much compared to the total amount he owes. To M owes $101 million to former partners, clients, orphans and widows. It just makes you sick. But on the other hand, when you owe that much money, every penny counts. So they spare no effort in trying to reduce this debt.
They auctioned trinkets of by Tom old law firm, and they tried to get Erika to hand over a $1.4 million pair of earrings. Then, of course, there’s the infamous $25 million lawsuit against Erika that she wants the courts to throw out. That’s a lot, but hopefully the victims will be taken care of once all of this is said and done. This is the most important part.
RELATED: Tom Girardi, Erika Jayne’s Estranged Husband, Owes IRS $3.7 Million
TELL US – ARE YOU SURPRISED TO LEARN THAT TOM’S LIFE INSURANCE POLICIES ARE SEIZED? DO YOU THINK WE CAN DO MORE TO SUPPORT VICTIMS?
[Photo Credit: Bravo]