To be personally bankupt his liabilities would have to exceed his assets. That, after all, is the definition. $40 million would not seem to exceed his assets, which include a heavy revenue stream that is constant as well as equity in a very large number of valuable pieces of commercial real estate. Where can you show that in the law suit that you mention there is proof of what you say? I doubt if you have any such specific knowledge, frankly. I believe that you are blowing smoke and I very much doubt if you can back up what you say.
Indulge yourself. You can find the rest of the filings for this case at the same site.
http://amlawdaily.typepad.com/DeutscheSJ.pdf