McMahon To Re-Pay Some Debts After 36 Years
Thirty-six years after filing for bankruptcy, Linda McMahon will be paying back all the individual creditors she can track down. The decision comes two days after a reporter from The Day of New London confronted her with a partial copy of the 1976 bankruptcy filing.
McMahon, a multi-millionaire and former CEO of World Wrestling Entertainment, released a statement Thursday evening explaining that “it is our intention to reimburse all private individual creditors that can be located.”
The statement came after she received copies of the bankruptcy filing found by a Day reporter at the National Archives and Records Administration in Massachusetts.
“We feel it is the right thing to do to pay them in full, including an adjustment for inflation at four times the initial amount as shown on the list of creditors,” McMahon said in the statement.
Click here to read her full statement.
Earlier this month at Lake Compounce, when McMahon was asked by reporters if she would hand over copies of her bankruptcy filings, she said she didn’t have any records.
She said she tried to find them in 2010 during her first run for the U.S. Senate, but was unable.
“Those records were just not available,” McMahon said on Sept. 7. “That was 1976. And we didn’t hang onto those.”
Her Democratic opponent, Chris Murphy, has argued that, unlike McMahon, he paid his debts. Murphy had a brush with foreclosure in 2007 and made late payments on rent in 2003, his property taxes in 2005, and his vehicle taxes from 1998 to 2005.
McMahon has said her bankruptcy as a private citizen is far different from Murphy’s near foreclosure as a sitting Congressman and elected official.
But Murphy’s campaign is wondering why she has decided to repay her debts now when she’s been a millionaire for years.
“It’s a shame that it took 36 years and mounting political pressure for Linda McMahon to finally pay some, but apparently not all, of her debts,” Ben Marter, Murphy’s spokesman said. “The timing of her newfound goodwill reeks of political expediency but unfortunately, McMahon is only raising more questions about her financial dealings.”