Again within the nineties, John “Shelby” Bryan was well-known for being tall and Texan however with a waspy aptitude, charming, well-connected, and old-moneyed in addition. However as everyone knows, the larger they’re, the more durable they fall. And in 2000, it turned obvious that the telecommunications titan had lastly bit off greater than he may chew by means of a $750 million take care of mega-money buyers John Malone, Thomas Hicks, and Eric Gleacher. Seemingly in a single day, the inventory in Bryan’s telecommunications firm, ICG Communications Inc., nosedived from $39.25 a share to lower than $1. Bryan was promptly ousted from his function as CEO in August 2000, and the corporate filed for chapter in November of the identical 12 months.
Alas, that was solely the tip of the iceberg when it got here to Bryan’s mounting cash woes. His divorce from Katherine Bryan, with whom he was married for seventeen years and shared two youngsters, proved notably costly for the businessman. It was reported that following the divorce, Katherine was set to make off with the income from their shared marital properties, together with their sweeping six-story townhouse in New York Metropolis and their sprawling property in East Hampton.