Deals
Wyly Widow Says She Was Insolvent After Billionaire’s Death
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Texas businessman Charles Wyly had “no significant life insurance” when he died in a 2011 car crash, leaving his widow insolvent and dependent on family in the midst of a U.S. regulator’s fraud lawsuit against her husband’s estate, bankruptcy records show.
Caroline “Dee” Wyly, 81, exhausted the liquid assets in the estate and can no longer tap the remaining funds to pay for living expenses or litigation, her lawyer said in a filing two days ago in U.S. Bankruptcy Court in Dallas.