They can't go after your family home, however if you have built up significant wealth including assets like boats and airplanes you will lose the lot. I'm not scaremongering at all, going uninsured with things like aviation can bite your ass very badly when it goes wrong. This is one downside to 'ride-share' type operations in that charter ops are covered by carriers liability act, which prevents a charter company from being sued in excess of x amount per passenger. Private or airwork ops you are not covered by said laws and therefore open to full compensation payouts to injured passengers and such. It's very important you know what you are covered for as I've already stated I know a number of pilots that have been bitten hard. If you want to rebuild your life from the bottom up again, go for it, declare bankruptcy, or just make sure you are covered for the reasonable eventualities. Personally I would operate into Cooly with what insurance I have, knowing that the likelyhood of causing $35mil USD of damage or starting a war a far off possibility. But going in uninsured is just silly as enough damage to ruin my lifestyle is definitely a possibility. The question is can they stop you from operating there, unless there is some PPR notice given I doubt it.
What a vindictive company can do if you wont pay up though is put a lien on your house so you can never sell it unless you cough up x dollars. But you would have to piss somebody off to get to that point, I know of several aircraft that have rotted away and scrapped because of such behavior. Intention is to basically ruin any chance you have to scarper with anything of value until you pay your debts.
Last edited by 43Inches; 17th Jul 2022 at 10:38.