[frommagio]

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This is not a personal debt for Dutch. .....

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....What leads you to believe that this is true?

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business 101

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I think it would not be a peronal debt if the company's assets were sold to pay the creditors. Russ Boyd chose to keep the company's assets for his personal use. I think that make the debt his.

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Again, business 101 - learn what a corporation is, and you'll understand who owns the debt. This is not a defense of Boyd - who clearly screwed up - it's just a matter of getting facts straight.

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There was no corporation. He never made the claim of this being a corporate debt until after he clsoedup shop and tried to be an active memeber of the online community. When he was planning to open a new poker site where do you think he planned to get the software? If this were a real corporation the software (it was very good at the time) would have been sold and that could have paid for quite a bit of what was owed, but Russ wnated to keep the software unless he could get enough to pay the players and pocket some for himself.

What I have always thought happened was a lot of the money went to freerolls. I never signed up at Pokerspot, but I was planning to and never got around to it before the checks started bouncing. He offered "good" freerolls with a lot of overlay. I am guessing the money he expected to rake form the traffic never materialized.

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Believe me, I understand the frustration, but you're going on your feelings, not the facts that are out there. Unless you have better information than what's available publically, you're just making unsupported accusations.

"There was no corporation." ??? Come on. I spent two evenings googling around just to learn what I could about this situation (idle curiosity), and nobody is seriously arguing this point. All I've seen indicates that there were several stakeholders in the corp (at least 3), and I think it's the case that Boyd had less than 50% ownership. You have some private information that you care to share? It's almost impossible to believe that there wouldn't be a corporation - jeeez, the guy was a fresh law school grad.

To me, the real story seems daming enough to Boyd: incompetence and bad judgement after the business partner failure, followed by the attempts to salvage a deal, and the accepted offer that later fell through, with other offers drying up. It seems completely plausible - this kind of stuff happens in business failures all the time. And it seems to fit the facts. What's more, I can't find any facts that seem to argue otherwise.

So Boyd screwed up. He made bad decisions, and he acted very poorly when things went wrong. He also had some bad luck, both with the failed business partner, and in his attempts to remedy the situation. He has made some noises about wanting to pay the debt back, but nothing has happened on that front. It's nice that he feels some ethical responsibility (at least he says he does), and it would be nicer still if he actually sacrificed and began to pay what he could. But at the end of the day, an individual is not on the hook for a corporate debt.