Many wonders why Michael John Shone is so much in the news all the time. Is it about the publicity that makes him create these glitches in his life or is he too clumsy to do the right thing. However, the reality is, Michael is too shrewd for you to judge him or at least he thinks himself as one of the smartest players of life. He made decisions that not only ruined his life, but created problems for his ex-wife and family as well.
While being in a huge debt, Michael Shone decided to take out the biggest card out of his pocket and thought no one would notice it. But, that did not happen. He filed the divorce in the year 2012. However, the continued transfer of assets in the name of Mrs Shone after 2013 did not fit the equation. It was not even in the divorce terms.
The fact was, the company was not doing good and the creditors were after Mr. Shone. Marc Bataillon and Cyril Marquaire, the claimants who put charge on Mr Shone for making these transfers for making the assets out of reach of the creditors does have the weight. As a matter of fact, Mrs. Shone is a mere nominee and held these properties on behalf of Mr. Shone. The claimants want the assets to be transferred in the name of Mr. Shone for an unbiased justice.
Michael Shone started his investment fund as partners with the Global Distressed Assets Fund III Limited. While Shone was the shareholder, Marc and Cyril were the investors. In 2012, when Michael Shone promised a huge return, both the investors invested $1.26 million and $109,000 together.
The concerns were raised when the audited numbers came into picture for the year that ended in December 2012. The financial statement surfaced in 2014. And, it became obvious that something fishy was cooking in Michael Shone’s head. Michael did sign the settlement agreement after the concerns about the whereabouts of the money, however, the settlement was short lived.
In June 2015, a summary judgement was passed against Michael Shone. Against which, Michael filed bankruptcy. Marc and Cyril are fighting to set this order aside as the assets that were transferred in the name of Mrs. Shone are still a property of Mr. Shone. Not by law but with will and the judgement can only be reasonable if the properties are considered a part of Michael’s property.
The evidences provided by Marc and Cyril are mostly reasonable and legitimate. There is very less to doubt. However, Mrs. Shone who tried to protect the situation going against Michael Shone, her ex-husband, seems flimsy.
It is completely understandable that Mrs Shone would be losing a lot of property if the judgement goes against Michael and supporting him even after the divorce clearly showcases her insecurities about the financial setback.
Hence, I do not consider her even a witness as she cannot be unbiased while making her stand. Michael did a lot of blunders. He cheated his wife for his affair while they were married. And, even after divorce, the situation makes Mrs. Shone the real victim.