24 Nov Another High Profile Bankruptcy Filing in Georgia – State School Superintendant Files Chapter 7
One of the most prominent elected officials in the State of Georgia, State School Superintendant Kathy Cox has filed a Chapter 7 bankruptcy. Ms. Cox’ husband, John Cox, is a homebuilder whose business has all but dried up in recent months. The Cox’ schedules show $3.5 million in debts and $650,000 in assets. My colleague, Georgia Bankruptcy blog editor Scott Riddle has posted on his blog links to Ms. Cox’ schedules as well as links to stories in local papers.
Ironically, Ms. Cox recently won $1 million in a TV game show called “Are You Smarter than a 5th Grader?” but she gave the prize money away to charity.
Ms. Cox has issued a statement asserting that her financial troubles will not affect her ability to perform the duties of her post.
Since the story was published in the Atlanta newspapers, a number of Georgians have posted comments and it is heartening to note that most of the comments have been supportive of Superintendant Cox and wishing her well.
Jonathan Ginsberg, Esq.
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