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this post was submitted on 03 Jul 2023
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So when you do a write off you still are responsible for that money. It's not declaring bankruptcy, it's just lowering your taxable income due to loss. So "write-off" doesn't really make much sense in this context.
Maybe not the correct 'legal' term. But it's splitting hairs really.
He wants rid of his serious burden. And imagine he thinks that he can do that if he kills the platform. Instead of being on the hook for 44billion with the repayments and interest attributed to that every month, he can cut that down to a fraction.
I'm not saying I have any idea how it works, or even if it's possible. Mainly that I wouldn't be surprised if it was.