Evidence of the Economic Downturn and the Role of Bankruptcy

The link below is to a very interesting Atlanta-Journal Constitution article about Asa Griggs Candler V, a scion of the (once) immensely wealthy and powerful Candler family. His kin founded Coca-Cola, were instrumental in supporting Emory University and played major roles in developing Atlanta's arts community. The family also played a prominent role in Georgia and Atlanta politics as the confidante of governors, mayors and state legislative leaders.
But times have changed, as the AJC reports. Backed with inherited family money and a well-known name, Asa Candler V was a major commercial real estate developer. Then the Great Recession hit. Now Asa claims that he has lost it all and the banks and investors are none-too-happy. Like so many Georgians, he is facing foreclosures.
As bankruptcy attorneys we see this all the time: Once thriving individuals and companies that have been devastated by the economic downturn. Bankruptcy lawyers explain to clients everyday that money troubles can happen to anyone and this article about Mr. Candler is just more proof of that!
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