Keeping up with Tom Girardi and Erika Jayne’s legal woes is a tough job because rarely does a day go by where one of them isn’t implicated 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, and then the next day — surprise! It’s being refiled in another state. Now, the latest detail emerging from this neverending saga involves Tom Girardi’s life insurance policies being seized in an attempt to recoup some of the millions of dollars he owes.
According to a report by Radar Online, the trustee over Tom’s bankruptcy case has asked the courts to seize the 82-year old’s insurance policies in exchange for cash. Allegedly, there are two life insurance policies up for grabs, one for $36,848.41 and another for $48,493.45.
Radar Online’s report says that the insurance company holding the policies has already agreed to turn over the funds once the judge signs off on it. So once it’s signed, they’ll use that life insurance money to pay towards Tom’s enormous debt.
In total, they’re getting $85,341.86 from seizing Tom’s life insurance. That’s a lot of money for the average Joe, but for “rich people,” that’s not a lot. Think about it. This cash would hardly cover two months of Erika’s glam for The Real Housewives of Beverly Hills, and that’s not even calculating for inflation.
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This life insurance money also just doesn’t seem like much compared to the total amount he owes. Tom 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’re leaving no stone left unturned to try to make a dent in this debt.
They’ve auctioned off knick-knacks from Tom’s old law office, and they’ve been attempting to get Erika to turn over a pair of $1.4 million earrings. Then, of course, there’s the infamous $25 million lawsuit against Erika that she wants the courts to toss out. It’s a lot, but hopefully, the victims are taken care of once all of this is said and done. That’s the most important part.
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TELL US – ARE YOU SURPRISED TO HEAR THAT TOM’S LIFE INSURANCE POLICIES ARE BEING SEIZED? DO YOU THINK THERE’S MORE THAT CAN BE BE DONE TO SUPPORT THE VICTIMS?
[Photo Credit: Bravo]
