In 1924 and again in 1929, the total sum owed was negotiated down.
This is an official procedure whereby you make regular payments to the court which goes towards the total sum owed to your creditors.
Compromise is the settlement of an FLP debt or claim by a lump-sum payment of less than the total amount owed in satisfaction of the debt or claim.
The total amount owed in the United States exceeds $1.3 trillion.
For now, some of the sums owed are staggering.
But in 2012 he ran into further problems after failing to pay a string of auction houses; his total unpaid bill to worldwide auctioneers and art dealers included £4.3m owed to Bonhams, around £30m to Sotheby's, and various other sums owed to at least five other auction houses and art dealers.
The judgment creditor may also garnish wages or other sums owed to the debtor.
"We are confident the matter will be resolved to everyone's satisfaction". In order to apply to a court to 'wind up' a company, the debts unpaid must total more than £750, the serving party must also be able to prove the sums owed and that the company cannot repay.
An HMRC lawyer who blew the whistle and testified to government officials about the secret deal has said that the true sum owed to tax authorities totals £20m.
But the total owed him remained the same.
The administrators said the total owed was "subject to change".
