Winning a Lottery During Bankruptcy

March 5th, 2009 by Questions

Just curious what happens if someone were to win a lottery say 2.5 million dollars during a bankruptcy. Does the trustee hold that money to pay the creditors? And if so how long?

Posted from: Ontario

Questions

One Response to “Winning a Lottery During Bankruptcy”



March 06, 2009 at 8:22 am, A licensed trustee said:

Legally, the ticket is to be surrendered to your trustee to claim or your estate. The trustee then will pay off your debts in full, take their fee and return the excess to you. If you ask, they will alos make a motion to the Court to have the bankruptcy annulled (cancelled – as if it never happened).

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