Eyman assets to be sold to satisfy $5M million debt

SEATTLE (AP) — Initiative promoter Tim Eyman, who earlier this year was found liable for years of violations of Washington’s campaign finance laws and owes the state more than $5 million, is facing the court-ordered sale of his assets. Eyman is required to make monthly $10,000 payments to pay down his fine and other fees. He has missed his last four monthly payments. The Seattle Times reports a U.S. bankruptcy judge last week found Eyman in default and ordered his bankruptcy case shifted from Chapter 11 to Chapter 7. Chapter 7 means the court appoints a trustee who will be responsible for selling Eyman’s assets and distributing the proceeds to his debtors, primarily the state of Washington. Eyman has said he is appealing.