Thursday, April 26, 2012

Something I have never heard of before: a Federal district court judge files for bankruptcy.

The Wall Street Journal Law Blog reports that Judge Otis D. Wright II, a United States District Court Judge for the Central District of California, has filed for bankruptcy.  The post says that Judge Wright's bankruptcy petition (which was filed late last year) lists assets of $833,426 and liabilities of $895,292. Evidently the judge and his wife have more than $70,000 in credit card debt, including $12,740 on a Nordstrom card, according to the filing.  The post says that Nordstrom is suing the Judge and his wife over the debt.

Normally one would not think that a person with a guaranteed income for life would file for bankruptcy. One explanation for this unusual occurrence might be that Judge Wright's household income fell by about $100,000 between 2010 and 2011 as the business run by Judge Wright's wife started doing poorly. 

This episode has got to be very embarrassing for Judge Wright.  If you look at the judge's rating at The Robing Room, I suspect that some people are taking some joy from Judge Wright's predicament. 

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