PDF: McKenzie bankruptcy
The wife of self-made millionaire Toby McKenzie, a Cleveland, Tenn., native who went from riches to rags after being forced into bankruptcy almost two years ago, expressed her frustration with the process and said it has made them learn who their real friends are.
“When my husband was handing out money right and left, everyone was there, weren’t they?” Rebecca McKenzie said through tears Thursday after a Bankruptcy Court hearing as Mr. McKenzie sat by her side.
She explained how the bankruptcy filed in 2008 has “paralyzed” their life, despite her husband’s history of philanthropy. Mr. McKenzie, a pioneer of the national payday loan business, donated millions of dollars to local schools and charities over the years.
“This man has literally donated millions to this community, but when he had such bad medical problems (after declaring bankruptcy), we couldn’t even get the trustee to help us pay his medical bills,” Mrs. McKenzie said.