State Senator Austin Jennings files for Chapter 7 bankruptcy
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Wyoming State Senator Files for Bankruptcy

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January 04, 2011

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Wyoming state senator files for bankruptcy

Wyoming state senator Austin Jennings has recently filed for Chapter 7 bankruptcy after he lost a legal contract dispute with one of his creditors.

Wyoming Machinery Company had sought $500,000 from Jennings as payment for equipment rentals, according to the Casper Star-Tribune. Jennings claimed that the company had breached its contract with him, as the equipment was not to his requested specifications. He lost a legal battle against the company, resulting in an obligation to pay the $500,000, which with interest totaled up to $1.5 million.

In reaction to this hefty judgment, Jennings filed for Chapter 7 bankruptcy, listing assets of $190,000 and liabilities of $1.9 million. In addition to the court-ordered judgment, Jennings also owes more than $116,000 in back income taxes to the Internal Revenue Service and has an outstanding debt with the creditor that holds the mortgage on his house, the news provider reports.


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