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Bankruptcy did not ground investor

Although not usually thought of as a positive occurrence, bankruptcy doesn't always have to signify complete failure. Orlando residents may be interested to hear that over the past two years, an investor and a former Goldman Sachs partner rode the Wall Street roller coaster. In 1994, the now 65-year-old investor had his first taste of test when his private equity fund came to be. Between 2002 and 2004, the group became even stronger when it took over Regal Cinemas and merged with R.R. Donelly.

By 2007, the group was managing around $28 million, with the now 65-year-old investor having a share of around $250 million. Unfortunately, by 2010, the group was forced to file for bankruptcy as was the investor in 2011. Although his luxurious life and investment group came crashing down, the investor has not let bankruptcy get him down.

While it may have seemed like his life was falling apart, it's possible that bankruptcy was the best option for the ambitious investor. Although he's still working to pay off some of his debts, filing bankruptcy has put him in a better position to do so as well as giving him a fresh start at starting a new, stronger company. Even after his monumental financial downfall, his confidence has remained high. Today, the 65-year-old is earning $1 million a year through a consulting job and is working on starting a new money management business.

Fortunately, Orlando bankruptcy attorneys can assist individuals with the process of filing bankruptcy. Individuals trying to file on their own may find it complicated and could make costly mistakes. Individuals filing for bankruptcy often find that getting in touch with a bankruptcy attorney and filing bankruptcy may be the best option.

Source: CNBC, "Investor Aiming for the Top, Again", Randall Smith, May 17, 2013

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