The latest update regarding my 2010 defamation judgment against Lloydminster's Patrick "Outlaw Tory" Ross is that we are simply waiting for the Court to issue the order related to the recent ruling that allows me to register my judgment in Saskatchewan for the purposes of collection enforcement. But something quite entertaining has been brought to my attention.
Apparently, the Sheriffs are two to three months backlogged regarding collections, so it will be about that long until they begin pounding on Patrick's door. But that's not the entertaining part.
I have been advised that, upon moment of registration of judgment (which should be any day now), the "post-judgment interest rate" that will accrue on the outstanding balance of what Patrick owes me (approximately $115,000) will no longer be the two percent as indicated by the original Ontario judge back in 2010; rather, as the judgment is being registered in Saskatchewan, it will be Saskatchewan's "prescribed rate", which I am told is currently five percent.
What this means is that, as soon as my judgment is registered in Saskatchewan, even if takes a few months for the Sheriffs to get around to Patrick, the amount he owes me will begin growing considerably faster than it did before. In fact, back-of-napkin calculations show that, even if Patrick sits smugly at home celebrating the few months of reprieve he's going to get, what he owes me will be increasing at the rate of about $500 per month.
Even when Patrick "wins," he still takes a massive boot to the joy department. And I'm fine with that.
23 comments:
If you are going to get access to Patrick Ross's financial records *and* tax returns, is it possible that you could identify tax evasion on Twatsy's part? Like, what if Twatsy pulled a Rob Anders and underreported lump sums of income that mysteriously showed up in his bank account?
https://www.cbc.ca/news/canada/calgary/rob-anders-conservative-mp-tax-evasion-charges-ito-1.5782765
Is that 5% per month, or 5% annually? … and what is the compounding period?
MgS: 5% annually.
Holy shit, that's funny. So once your judgment is registered in SK, then even if Patrick paid you $500 a month, he'd only be keeping up with the interest? Jesus, talk about fucked.
Anon: That is precisely the situation.
Jesus Christ, I didn't think it could get any worse for Twatsy but it got worse. So, if my math is correct, even if it takes three months for collection to happen, in that time, what Patrick owes you goes up by about $1,500 based on SK's interest rate on judgments. And when collection finally starts, you said you have to front maybe $3,000, which all gets added to Patrick's bill as well. So by the time collection starts, Patrick will owe you another $4,500, AND from that point on, interest will be charged at 5% until it's all paid off? Sound right? Holy fuck.
Anon @ 7:57 AM: Your math looks good. Upon registration, Patrick will need to hand over $500 per month just to keep up with accruing interest; that won't affect the principal at all.
And not to rub it in but recall that I mentioned that, not that long ago, I made a settlement offer of less than $35,000 to make all this go away. I was pretty much told to fuck off by both Patrick and his father. I'm betting that offer (which is no longer on the table, of course) is looking pretty good right about now.
Actually, if you don't need the money right away, you're better off that it will take a few months to start collecting. An annual return of 5% is pretty good compared to standard bank interest rates, so just sit back and let it pile up. Think of it as a savings account that's returning 5% annually -- you could do a lot worse.
If Patrick had any ideas about settling, under these new circumstances, he'd be an idiot to not try to settle as quickly as possible, since if what he owes you keeps going up, any settlement amount you should accept will keep going up as well. The longer he drags this out, the more he's going to end up paying. I don't know why he doesn't understand that.
So ... if I've got this straight, because of the utter cock-up of his bankruptcy, Mr. Ross' position looks a bit like this:
1) He owes you somewhere around $115K, plus interest.
2) Short of hidden assets, he likely doesn't have anywhere near that amount on hand.
3) Because he is no longer protected by a bankruptcy trustee (and I imagine it would be very hard for him to acquire one now), he's on the hook for the full amount owing
4) The disposition of his bankruptcy now depends on being able to pay off his creditors in full.
... in short, he's going to have placed himself in what amounts to a form of indentured servitude for the foreseeable future - likely for however long it will take him to work off $115K worth of debt.
Ouch. I don't think our laws were set up to handle such a situation.
MgS:
Your final sentence is more on point than I suspect you imagine. Every hearing over the last few years related to this case has involved judges literally staring aghast at this case and wondering if there's anything in precedent that's even remotely applicable to the devastating financial clusterfuck that Patrick has created for himself.
Even other people who are fairly well-versed in bankruptcy law have admitted they've never seen anything like this; that is, how someone could have so fucked up that they're still *in* bankruptcy while simultaneously not being protected by bankruptcy.
We are, quite literally, in uncharted territory regarding the damage someone is capable of inflicting on themselves out of sheer arrogance and stupidity.
What's the old saying? "He who has himself as a lawyer, has a fool as a client" ... or something to that effect.
I'm not sure I'd have the patience to go after Twatsy but I"m glad you did.
It is sad that they are thousands just like Twatsy, and they are all Conservatives. If you had not pursued this, he'd be crowing about some kind of victory.
Patrick "Twatsy" Ross just was removed from the Lloydminster Lions webpage.
Reprobate Ross had no business participating in a venerable public service instituton like the Lions Club.
https://e-clubhouse.org/sites/lloydminster/page-7.php
It's almost like having Patrick Ross owe you $115K at 5% is a retirement plan. I certainly wouldn't mind a guaranteed $500/month for the rest of my life, while keeping Patrick in permanent bankruptcy.
The advantage of taking two or three months to begin collection is that if Patrick keeps working at his job in Grande Prairie, then there's that much more money he'll have collected by then that you can take. And if he tries to hide it or give it to his relatives, I'm pretty sure you can file to force them to return it, then take it.
IANAL but if Patrick claims he needed to give that money to other people because he owed them money, that's referred to as a "preferred creditor," and he's not allowed to do that. Since he KNOWS he now owes you a pile of money, he is not allowed to suddenly start paying off debts to other people just to keep you from getting any. The law really does not take kindly to that sort of nonsense.
Also, aren't you really the ONLY creditor in the bankruptcy? If that's true, then there is no way he can start passing out cash to other people just so he can keep it from you. If he's still in bankruptcy, then you as the only creditor have priority over all other creditors. So as long as I understand this, then Patrick can rest easy, knowing that all the money he's currently earning is going to you later this year.
@Anonymous @ 7:49:
Wage garnishment rules vary across provinces. SK allows for everything above $1500 to be pulled back, Alberta has a slightly more generous (to the worker) scheme that says between $800 and $2400, only 50% of that can be garnisheed, and 100% of anything above $2400. If he's working in GP, but legally resides in SK, I'm not clear on which set of rules applies (way out of my wheelhouse)
If it's a contract gig, then the rules around garnishment may not apply at all because that's a business to business arrangement, and the way that Patrick is paying himself from his business suddenly matters.
MgS:
Oh, I'm sure Patrick and his family will continue trying to play games, but there are some fundamental problems with that approach.
The longer this goes on, the more Patrick will owe me, so it's not exactly in his best interest to drag this out. Sure, maybe he can minimize what he pays me each month; that just means he'll be doing it for years longer.
The bigger problem is that if this does indeed drag out for years, and Patrick suddenly comes into an inheritance, then it goes to me so, once again, it is not in Patrick's best interest to try to reduce what he owes me as he just increases his risk.
One way or the other, Patrick will remain an undischarged bankrupt until I am paid in full. If he wants that to take years or decades, or simply accept a lifetime of indentured servitude to me, I'm good with that.
That's remarkable that Twatsy will need to pay you $500/month JUST TO KEEP UP WITH INTEREST PAYMENTS. And to think through bankruptcy, he only would have had to pay $200/month for 14 years to pay off a fraction of the current six-figure judgment.
This Grande Prairie forestry job is weird. Twatsy must be paying at least $90/night for hotel rooms (hopefuly he's tipping his roomkeeper). Then he spends at least $40/day on fast food. Plus, there's gasoline costs for travelling all over Northern Alberta. His daily nut has to be like $150 working that job. How much could Twatsy be netting from a low-skill blue-collar job that hires chronically unemployed university drop outs?
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