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Article: Ex-boss of Protos Wolinsky bankrupt
- Article from:
- Winnipeg Free Press
- Article date:
- February 7, 2009
- Author:
CopyrightCopyright F.P. Canadian Newspapers Limited Partnership Feb 7, 2009. Provided by ProQuest LLC. (Hide copyright information)
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David Wolinsky once led one of Manitoba's fastest-growing companies and moved in high-rolling circles, but now he's bankrupt.
The former chairman of Protos International and Maple Leaf Distillers filed for bankruptcy late last month at Sands & Associates, a Surrey, B.C.-based firm specializing in insolvency.
With liabilities of more than $3 million and facing a number of lawsuits from aggrieved former shareholders and investors, the man who used to pull up at Green Gates restaurant in a loaded Mercedes now toots around Surrey in a 1987 Mercury Sable with a resale value of an estimated $1,000.
His total assets, worth just $4,865, also include household furniture ($2,700), clothing ...