A Billings neurosurgeon accused of malpractice who filed for bankruptcy last year is now battling allegations that he is trying to hide his money and property from creditors.
Bankruptcy Trustee Joe Womack, a Billings attorney, said in court records that Dr. John Henry Schneider was a successful neurosurgeon who claimed to have a personal net worth of $17 million as recently as 2011.
After filing for bankruptcy in 2014, Schneider claims “virtually no assets,” Womack said.
Schneider, the trustee said, carried out “this disappearing act,” through a complex scheme of using companies, trusts and transfers to “divest himself of technical ownership of virtually all assets and claims, leaving virtually nothing to satisfy his creditors.”n
Often times, Trustees have the power to look beyond the surface of a transaction in order to reach real economic substance. Property of your bankruptcy case includes not only items in your legal name, but also items in which you have an equitable interest. It is very important to disclose all of the necessary property and information.
Ron Drescher has over 25 years of experience in bankruptcy law. If you’re considering filing bankruptcy and you have questions about the next steps, we would love to answer your questions. Give us a call at (410) 484-9000 so that we can get you scheduled for a free consultation.