Indigence plea: Halsey Minor's assets don't include cash
Halsey Minor has filed an "affidavit of indigence" in a Georgia court, another sign of the embattled millionaire's dwindling fortune. But has he really gone the way of squatters camping in his unfinished Landmark hotel? He claims otherwise.
"It's liquid securities, not a net worth test," Minor says in an email. "Many, many assets don't count including private stock, real estate, etc."
Indeed, Minor still holds positions in several high-tech companies, as well as valuable real estate, including a pair of California mansions, a historic Williamsburg estate, and a sprawling farm right here in western Albemarle. Yet he found himself unable to post an eight-figure bond to keep alive his appeal of a recent ruling that would strip him of his unfinished hotel on the Downtown Mall.
"Who in the world now right now has $10 million cash?" asks Minor. "The United States of America almost didn't have $10 million in cash."
Hook legal analyst David Heilberg says that Minor's indigence plea is an effort to persuade the court to waive its bond requirement. The document appears, says Heilberg, to have been drafted by a lawyer but personally submitted to show the court that Minor's cash-strapped, an effort that would be undercut with a lawyer's signature.
"You can't claim you're indigent when you have a lawyer," says Heilberg. "That's just bad form."
Of course, there could be other reasons why Minor might avoid lawyers– or visa versa. With just one firm, he has rung up unpaid legal bills of over $5 million.
The news that Minor calls himself indigent provokes no teardrops from Lee Danielson, the former Landmark developer who has battled Minor in lawsuits in two states.
Says Danielson: "It couldn't happen to a nicer guy."Attached Documents: