Discredited Surgeon's Only Asset Is 1993 Volvo, According to Bankruptcy Filing
After filing his emergency Chapter 7 bankruptcy petition on November 21 in United States District Court for the Northern District of Alabama, Dr. John King filed his schedules on Tuesday, and listed his only asset as a 1993 Volvo, estimated value $500. Here are King's bankruptcy petition and the schedules of assets and liabilities.
Last month, I wrote about the possibility of King filing for bankruptcy and the effect that the filing would have on the medical malpractice trial that was set to begin, at that point, on November 27, which was changed to December 3.
Paul J. Nyden wrote about King's bankruptcy filing in yesterday's Charleston Gazette, and pointed out that while King identified his sole asset as the Volvo on the schedules (which must be verified as true and correct under penalty of perjury), he described his assets very differently in a hearing last year before the Circuit Court of Putnam County, West Virginia (where 122 medical malpractice cases are pending against King and other defendants).
At that time, King testified under oath that "he had assets in 11 different offshore and domestic accounts. His offshore assets were contained in a limited liability company and in a trust fund established in San Jose, Costa Rica. King testified he also held assets in nine other trusts and accounts, four of which were based in Nevada, including an 'irrevocable life insurance trust.' King's accounts included: the Bone Maker Trust, the Bone Crusher Trust, and the Bone Lover Trust."
So what happened to those assets and trusts? King didn't list them on his schedules. And although King has changed his name to Christopher Wallace Martin, he did not mention that name anywhere in his filing. In any event, the immediate effect of King's filing is to stay the pending malpractice cases against him for 90 days, and perhaps longer.
Last month, I wrote about the possibility of King filing for bankruptcy and the effect that the filing would have on the medical malpractice trial that was set to begin, at that point, on November 27, which was changed to December 3.
Paul J. Nyden wrote about King's bankruptcy filing in yesterday's Charleston Gazette, and pointed out that while King identified his sole asset as the Volvo on the schedules (which must be verified as true and correct under penalty of perjury), he described his assets very differently in a hearing last year before the Circuit Court of Putnam County, West Virginia (where 122 medical malpractice cases are pending against King and other defendants).
At that time, King testified under oath that "he had assets in 11 different offshore and domestic accounts. His offshore assets were contained in a limited liability company and in a trust fund established in San Jose, Costa Rica. King testified he also held assets in nine other trusts and accounts, four of which were based in Nevada, including an 'irrevocable life insurance trust.' King's accounts included: the Bone Maker Trust, the Bone Crusher Trust, and the Bone Lover Trust."
So what happened to those assets and trusts? King didn't list them on his schedules. And although King has changed his name to Christopher Wallace Martin, he did not mention that name anywhere in his filing. In any event, the immediate effect of King's filing is to stay the pending malpractice cases against him for 90 days, and perhaps longer.
