Judge freezes ex-Indy Boston chief's assets
Former Boston Grand Prix CEO John Casey is now unable to sell or transfer any of his assets — from cash in the bank to his Porsche and his artworks — after a bankruptcy judge ruled Casey will likely be found personally liable for all the debts incurred by the failed race.
In a hearing yesterday, Kathleen Cruickshank, a lawyer for trustee Gary Cruickshank, got the judge’s approval to have banks freeze Casey’s bank accounts, along with a temporary restraining order that will prevent Casey from moving or hiding his money.
“It’ll restrain John Casey and Casey Summit from transferring assets,” Cruickshank said, referring to one of Casey’s companies.
The order prevents Casey from selling or transferring any of his property, including “all works of art.” Casey also reportedly has a Porsche that was bought with more than $22,000 from Boston Grand Prix.
Read more: http://www.bostonherald.com/business/business_markets/2017/01/judge_freezes_ex_indy_boston_chiefs_assets