http://www.roadandtr...paldi-bankrupt/
Emerson is in huge trouble
Emerson Fittipaldi facing bankruptcy?
Started by
nitrocosworth
, Apr 06 2016 00:40
22 replies to this topic
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#2
black magic
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Posted 06 April 2016 - 00:57
dang. my first f1 idol.
#3
whitewaterMkII
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Posted 06 April 2016 - 03:16
ouch, 7.5 mil? someone gave him a huge credit line
#4
DESCHAIN
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Posted 06 April 2016 - 03:56
Yes, i have seen the news in the brazilian media.
One of them mentions huge investment on the WEC rounds on Brazil witch he still owes (catering expenses, etc.)
If you followed him on social media you'll have seen posts promoting everything, that made me think Emerson could be in trouble and was scrapping for money. He apparently is a "top bloke" but may be bad at business, completly the opposite of his countryman Piquet.
I hope he ll be able to sort this out.
One of them mentions huge investment on the WEC rounds on Brazil witch he still owes (catering expenses, etc.)
If you followed him on social media you'll have seen posts promoting everything, that made me think Emerson could be in trouble and was scrapping for money. He apparently is a "top bloke" but may be bad at business, completly the opposite of his countryman Piquet.
I hope he ll be able to sort this out.
#5
barrykm
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Posted 06 April 2016 - 04:12
Very sad, hope it can be sorted out.
#6
Wingcommander
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Posted 06 April 2016 - 05:20
How bad can a topic title be?
#7
GrumpyYoungMan
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Posted 06 April 2016 - 06:32
Click bait lol!How bad can a topic title be?
#8
Nonesuch
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Posted 06 April 2016 - 06:47
On a personal level that's rather sad. At the same time it's not like one amasses such a debt overnight.
How bad can a topic title be?
Ten things you didn't know about this former World Champion!
AMAZING revelation about a Brazilian superstar!
Five things you should know about the latest F1 scandal!
Edited by Nonesuch, 06 April 2016 - 06:48.
#9
PayasYouRace
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Posted 06 April 2016 - 06:48
How bad can a topic title be?
I've fixed the title, but I'm not holding out much hope for the thread.
#10
BuddyHolly
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Posted 06 April 2016 - 10:00
Emmo is a true legend, we should all chip in a few quid for him, I would!
#11
GSiebert
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Posted 06 April 2016 - 10:08
All he needs is another Indy 500 win and drink his own orange juice for $$$.
#12
AlexS
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Posted 06 April 2016 - 11:39
Maybe start the next Copersucar...
Edited by AlexS, 06 April 2016 - 11:43.
#13
OO7
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Posted 06 April 2016 - 11:50
Looks like a difficult situation for Emmo which is unfortunate. I don't think he or his family will go hungry or will be forced to live on the streets however.
#14
dutra
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Posted 06 April 2016 - 13:00
This situation is only in Brazil. Not only Emmo, but the country is bankrupt... In the US he just bougth a house in Florida for US$ 5 million.
#15
Nemo1965
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Posted 06 April 2016 - 13:14
This situation is only in Brazil. Not only Emmo, but the country is bankrupt... In the US he just bougth a house in Florida for US$ 5 million.
Emmerson Fittipaldi is one of my favourite F1-drivers ever. Such a nice guy... but, alas, he has been very flaky with his finances all his life, as far as I can tell from sources like Peter Warr, Walter Wolff and Keke Rosberg.
#16
BuddyHolly
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Posted 06 April 2016 - 13:28
Maybe start the next Copersucar...
That didn't really work out well last time, did it? 
#17
highdownforce
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Posted 06 April 2016 - 16:00
Maybe start the next Copersucar...
Old Cooperaucar cars and throphies are being apprehended by justice...
Some have pointed out to read what Hélio Castroneves has to say about Elmo antics in businesses in his autobiography.
#18
TyreSmokeDownshift
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Posted 06 April 2016 - 16:44
Question - How will this affect Pietro Fittipaldi's FV8 3.5 campaign?
#19
pdac
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Posted 06 April 2016 - 22:34
Emmo is a true legend, we should all chip in a few quid for him, I would!
There's probably dozens of people from F1 who could pay off his debt out of their small change. Leave it to them.
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#20
9nelson
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Posted 06 April 2016 - 22:47
I actually know him. He used to be married to my grandmother's sister for some time, such a great dude. I'm surprised how big this thing has become, everyone is talking about it, I feel so bad for him.
Anyway, apparently he already lost his Copersucars and a couple of other cars to the creditors.
#22
New Britain
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Posted 14 April 2016 - 07:51
I don't know what is the status in Brazil of limited liability companies, but it is quite possible that some or all of Fittipaldi's companies, rather than he personally, are facing bankruptcy.
Also, buying an expensive house in Florida may not be a coincidence. Florida is one of the few places where, in the case of personal bankruptcy, one's home is specifically protected from claims by one's creditors.
Edited by New Britain, 14 April 2016 - 12:46.
#23
saudoso
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Posted 14 April 2016 - 11:05
Around here unless it's proven someone committed fraud the owner's personal responsibility is limited to the amount of the company's capital. The only exceptions are labour claims - that can go after the owner's possessions above that limit.
And home property is also protected.
