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A Famous Restaurant's Bankruptcy Now A "Circus Show"?

Posted By admin || 5-Jul-2011

Giordano's Bankruptcy Turned "Circus"?

The judge overseeing the Giordano Chapter 11 bankruptcy was forced to have a litigant forcibly removed from the court after he made a comment that was interpreted as a threat.

Below is a blurb from the conversation between the judge and the litigant Marshall Home:

Then the judge asked Home to answer questions under oath, reminding him that what he said could have serious consequences.

"And vice versa," Home said.

"Who are you threatening?" the judge asked Home. She also asked Home to stop interrupting her and mentioned Apostolou's testimony that he received no money from Home.

After the exchanged continued, three guards escorted Home out of the hearing.

Marshall Home became involved in the Giordano bankruptcy after the owner, John Apostolou, came to him for help terminating the case. But after filing documents with the bankruptcy court which the bankruptcy attorney and judge described as ridiculous, the owner of the restaurant was removed from management.  But that's not the end of it. Home, not satisfied with the damage already caused to the owner of the company, filed what the bankruptcy judge called a fraudulent claim for $150 million. Apostolou has denied borrowing any money from Home; but he did admit that he signed lots of paperwork with the claimant.

It's not exactly clear if Apostolou completely understood the paperwork he signed. What is clear is that he is failing to take any of the advice given by his bankruptcy attorney. And as if to rub salt in a wound, the bankruptcy judge also held Apostolou's younger son in contempt of court after he failed to return $83,000 which were fraudulently transferred out of a bank account before the company filed bankruptcy.

(source:  Articles.ChicagoTribune.com )

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