Not content to let the inconvenience of the real world interfere with their high flight lifestyle, a group of enterprising young members of DePauw University's Beta Theta Pi chapter have filed for Chapter 11 bankruptcy. Yes, it probably it has a little to do with not wanting their asses foreclosed over the matter of a $1 million owed to Lehman Brothers from a 1999 loan. But it also has a lot to do with the immediate short-term benefits of not having to make payments and instead putting that money toward whatever the toilet water beer of choice is in Indiana. "Rather than just pouring every bit of income the house gets into the mortgage, we're working on renegotiating the mortgage with the bank," said president Greg Giometti. Provided the house isn't a shelter for infidels to refer to beirut as beer pong, we're all for it.
Beta Files For Chapter 11 Bankruptcy [The DePauw]
These Greeks are bankruptcy geeks [The Deal]