morekaos
Well-known member
Why you professional athletes should never spend their money as if their income is guaranteed..
Tennis ace served bankruptcy notice after mortgage default
http://www.smh.com.au/business/tennis-ace-served-bankruptcy-notice-after-mortgage-default-20101122-1845l.html
FORMER tennis ace Mark Philippoussis has been hit with a bankruptcy notice after defaulting on the mortgage for his Williamstown home.
The lender, Perpetual Trustee Company, applied to the Federal Magistrates Court in Sydney yesterday for ''substituted service'' of the bankruptcy notice, which means that Perpetual can formally give the notice to Philippoussis's lawyer or representative. Philippoussis is in the US.
The moves to bankrupt Philippoussis come after attempts to repay the mortgage by selling the three-level townhouse failed.
Advertisement: Story continues below He borrowed about $1.2 million from lender General Motors Acceptance Corporation in February 2008 to buy the townhouse overlooking Port Phillip Bay, which he shared with his mother, Rossna.
Tennis ace served bankruptcy notice after mortgage default
http://www.smh.com.au/business/tennis-ace-served-bankruptcy-notice-after-mortgage-default-20101122-1845l.html
FORMER tennis ace Mark Philippoussis has been hit with a bankruptcy notice after defaulting on the mortgage for his Williamstown home.
The lender, Perpetual Trustee Company, applied to the Federal Magistrates Court in Sydney yesterday for ''substituted service'' of the bankruptcy notice, which means that Perpetual can formally give the notice to Philippoussis's lawyer or representative. Philippoussis is in the US.
The moves to bankrupt Philippoussis come after attempts to repay the mortgage by selling the three-level townhouse failed.
Advertisement: Story continues below He borrowed about $1.2 million from lender General Motors Acceptance Corporation in February 2008 to buy the townhouse overlooking Port Phillip Bay, which he shared with his mother, Rossna.