Tim Eyman Facing Court-Ordered Sale Of Assets

SEATTLE (AP) – Initiative promoter Tim Eyman, who earlier this year was found liable for years of violations of Washington’s campaign finance laws and owes the state more than $5 million, is facing the court-ordered sale of his assets.

Eyman is required to make monthly $10,000 payments to pay down his fine and other fees.

He has missed his last four monthly payments.

The Seattle Times reports a U.S. bankruptcy judge last week found Eyman in default and ordered his bankruptcy case shifted from Chapter 11 to Chapter 7.

Chapter 7 means the court appoints a trustee who will be responsible for selling Eyman’s assets and distributing the proceeds to his debtors, primarily the state of Washington. Eyman has said he is appealing.

More about: