Dec 30, 2022
Almost five years after filing for Chapter 11 bankruptcy, former NASCAR Cup Series car owner Ron Devine has been ordered to pay $31 million after proceedings.
Associated companies and trusts will also have to pay the bank that issued loans, the IRS, employees and others still owed money through approved claims of the bankruptcy, according to FOX Sports.
Devine owned BK Racing from 2012 to 2018, which paid Devine-affiliated trusts and companies $6 million and another $11 million in debt that a trustee claims requires reimbursement.
A judge ruled that Devine did not comply with discovery procedures of financial disclosures, so he owes the full $31 million.
Source: Fox News