Famed O. J. Simpson Defense Lawyer F. Lee Bailey Files Bankruptcy

Attorney Ed WoodsThe Bangor (Maine) Daily News recently reported that F. Lee Bailey has filed for bankruptcy in Maine. According to the news story, Mr. Bailey sought bankruptcy relief to resolve an outstanding federal tax debt from a dispute that ended his legal career. Reportedly, Mr. Bailey is a resident of the State of Maine, having moved there in 2010 and that is why he filed his case in that state.

Mr. Bailey owed the IRS around $5 million according to the article. This amount arose from dealings that Mr. Bailey allegedly had with a client in the mid-1990’s. According to the news story, Mr. Bailey was representing a client in a drug smuggling and money-laundering case when he agreed to take over the client’s shares in a pharmaceutical company. He and another attorney then took their pay out of the sale of those shares. At the time of the sale of the shares, the value of those shares had increased significantly. This led to a dispute between Mr. Bailey and the federal government over the amounts due in taxes to the government resulting from the sale of the shares. During this dispute, Mr. Bailey spent 44 days in jail. When the federal government sought to collect the $5 million from Mr. Bailey, he challenged the government in the U. S. Tax Court. However, his challenge was not successful.

Mr. Bailey previously filed a Chapter 7 bankruptcy and was able to eliminate much of his debt in that case. According to the news article, Mr. Bailey was also able to resolve his personal liability to pay the taxes alleged to be owed; however, there are liens from these taxes remaining on some of his property. The new bankruptcy case is filed under Chapter 13. According to Mr. Bailey’s attorney, James Molleur, the purpose of the new case is to pay the value of the liens against his property over time so that he can finally be finished with the IRS matter. Unfortunately, Mr. Bailey was disbarred in Florida and Massachusetts in 2001 and currently is not licensed to practice law. However, he is seeking to become readmitted to the bar.

What has happened in Mr. Bailey’s case is not all that uncommon. His situation illustrates how the federal debt relief laws can be properly utilized to resolve a wide range of debt problems, including federal tax debts and liens. If you or someone you know is facing this type of situation, there are legal and proper ways to address it. Our attorneys have many years of experience in getting meaningful and lasting debt relief. We would be happy to help you.

Share This Page

Bond & Botes Law Offices

At Bond & Botes, we now offer full service bankruptcy consultation and filing over the phone or by video from the comfort and safety of your home or office. Please call 1-877-581-3396 or click here to setup your free phone or video consultation.

The lawyers at the Bond & Botes affiliated offices serve clients at offices in Anniston, Birmingham, Mobile, Montgomery, Opelika, Decatur, Huntsville, Florence, Haleyville and Gadsden, Alabama; Vicksburg, Hattiesburg and Jackson, Mississippi. Read our disclaimer here. You can view our Privacy Policy here.

Alabama Offices

Birmingham

2107 5th Avenue North
Age-Herald Building
Birmingham, Alabama 35203
Phone: (205) 802-2200


Shelby County Location
15 Southlake Lane, Ste 140
Birmingham, AL 35244
Phone: (205) 802-2200


Florence Location
121 S. Court Street
Florence, AL 35630
Phone: (256) 760-1010


Huntsville Location
225 Pratt Avenue NE
Huntsville, AL 35801
Phone: (256) 539-9899


Montgomery Location
311 Catoma Street
Montgomery, AL 36104
Phone: (334) 264-3363


Decatur Location
605 Bank Street
Decatur, AL 35601
Phone: (256) 355-2447


Haleyville Location
914 19th St.
Haleyville, AL 35565
Phone: (205) 486-3580


Gadsden Location
430-B Chestnut Street
Gadsden, AL 35901
Phone: (256) 485-0195


Opelika Location
216 South 8th Street
Opelika 36801
Phone: (334) 887-7666


Anniston Location
1302 Noble St #2C
Anniston, AL 36201
Phone: (256) 344-3559


Cullman Location
200 Second Avenue SW
Cullman, AL 35055
Phone: (256) 739-9866


Mississippi Offices

Jackson Location
5760 I-55 North, Ste 100
Jackson, MS 39211
Phone: (601) 353-5000


Hattiesburg Location
607 Corinne St, Ste B8
Hattiesburg, MS 39401
Phone: (601) 264-7200


Vicksburg Location
1212 Farmer Street
Vicksburg, MS 39180
Phone: (601) 353-5000

© 2024 by Bond & Botes Law Offices. All rights reserved. Disclaimer | Privacy Policy