Otto are you referring to earlier statements made by neighbours/friends/family members regarding the 'purchase' of properties in Mexico and Edmonton? If so, it has previously been discussed that people 'hear' different things, understand things differently, assume things, etc., and that some people can tend to 'say' certain things in a certain way which may lead some to believe certain things that may or may not be completely correct.. do you know what I'm saying?
As far as I understood from hearing from actual 'family members', A&K had only 'purchased' a property in Edmonton, but they were going to visit/vacation in Mexico.
Otto do you live in Canada? I'm not sure if bankruptcy laws are 'Canada' laws, or if they differ from province to province? I know that in Ontario, if you are bankrupt, you can't really keep your home, like you can in the USA (apparently in the USA, creditors can't go after the family home?). But in Canada, options are limited.. a bankrupt can 'keep' their home if there is no equity in it, however, the lender would want the bankrupt's name to be removed from title in order to protect their investment. The home would have to have had a large mortgage on it which would lessen the equity available... or.. some kind of deal could have been obtained where a creditor allows one to keep the family home, but with a stipulation attached that once sold, monies from the equity in the home at that time must be handed in to creditors.
Didn't we (WS) hear that Alvin had declared a personal bankruptcy some time ago, and then also K declared same 2 years ago? (And then also A's company a few days prior to the disappearance). If the home had been purchased years ago, and the value skyrocketed, there would be much equity in the home, and therefore no need for bankruptcy, unless there was also a large corresponding lien/mortgage against the home. Bankruptcy means debts are greater than liquidated assets, including one's share of ownership in a home(s).
Considering that bankrupts do not become discharged from their bankruptcy for something like 7 years, it is kind of odd if K is owning another home, because wouldn't that situation put *that* home at risk?
I wonder if there are behind-the-scenes things going on regarding all of this stuff, since, it is not difficult to imagine whichever creditors got stiffed for their money in K's bankruptcy, may be wondering the same things.
But... with all of these companies, you could very well be on to something on that one could have been loaning money to another, or to 'someone'.. and then if that someone declared bankruptcy, the company who did the loaning would possibly also be shot down and out of business?.. but.. aren't there laws about 'arm's length transactions'? ie if one of A's corporations took the mortgage on one of A's personal homes, and then A went bankrupt.. it would be A's corporation that would be out the money.. mind is wandering here, sorry!
There could also have been assorted companies because of the specific type of work each did? Or the specific 'partners' that may have been principals in one company but not another, etc.? ie A owns Corp#B with Associate/friend#C, and also owns Corp#D with Associate/friend#E? That could *perhaps* explain the multiple corps?
According to early statements, the couple had purchased a condo in Mexico, and a home in Edmonton. I did see one article naming Evansburg rather than Edmonton. I don't think that anyone that owns two homes in two countries is having financial woes. If they had not re-mortgaged the home, then based on property values 17-25 years ago, they purchased the home for about $150-200,000 and they had a capital gain of half a million dollars. There were also several oil companies that were set up, and then shut down over the last 15 years. It's quite possible that Winter Petroleum (owned by A. Liknes) paid those companies (owned by A. Liknes) for some sort of service, giving A. Liknes a profit on those delisted companies, and at the same time removing assets from Winter Petroleum ... that's speculation ... but I am very curious about all those companies simultaneously owned by one person.
