A federal grand jury returned a 24-count indictment on former Enron Executive Jeffery Adam Shankman, 46, that included concealing assets with bankruptcy fraud. He is expected to make his appearance before a U.S magistrate judge upon turning himself in to authorities. His charges include purposely hiding assets from creditors and the bankruptcy trustee who was [...]
FriendFinder Networks, owner of adult entertainment website and the popular magazine publication Penthouse, has filed for Chapter 11 bankruptcy. The company has been struggling to pull in new revenue in recent years, while having problems paying back outstanding loans and other debts. In August, the company was delisted from NASDAQ when their stock trade fell [...]
Tony Sutton, 46, former chairman of the Minnesota GOP has filed for Chapter 7 bankruptcy protection. Along with his wife Bridget, the couple claims to have outstanding liabilities totaling over $2 million. During his political career as state Republican Party chairman, Sutton pushed aggressively for republican legislators to stay in line with spending based on [...]
The owner of the Catalina Corsino Italina restaurant and other eateries located in Manhattan, Jason Denton, bit off more than he could chew by opening too many restaurants leading up to bankruptcy. His lawyer states the restaurateur opened too many eateries at a time when the economy was struggling due to the Great Recession. Denton, [...]
In what is being considered the largest municipal bankruptcy filing in U.S. history the city of Detroit seeks Chapter 9 protection. While the move was anticipated for some time by financial analysts, the city has seen a significant decline in a number of ways over the last several decades. The filing is being seen as [...]
Comedian David Adkins, better known as Sinbad, filed for Chapter 13 bankruptcy protection. He filed for bankruptcy protection previously in 2009. The 56-year-old funny man jokingly claims to be broke, but documents related to his filing claim he makes $16,000 per month. This may not seem like typical pocket change but the comedian reportedly owes millions to [...]
Well-known vacuum company Oreck filed for Chapter 11 bankruptcy after decreasing vacuum sales. The company will continue operations during the filing, while in the process of restructuring in hopes of acquiring a buyer. Oreck is known for producing upright vacuums and cleaning products through online and direct phone sales, as well as through their Oreck [...]
Janice Dickinson, 58, also known as the world's first supermodel, filed for bankruptcy protection after owing creditors close to $1 million. Her creditors include the Internal Revenue Service (IRS) and unpaid bills from plastic surgery performed by multiple doctors. Dickinson is known as one of the most successful models in the world when her modeling [...]
Legendary Grammy-winning singer Dionne Warwick has filed Chapter 7 bankruptcy protection in the state of New Jersey. Warwick reportedly owes millions in tax debt to the Internal Revenue Service (IRS) and the state of California. Her representative claims the massive debt is due to mismanagement of finances during the late 1980's and 1990's. Warwick's legal [...]
Video empire Girls Gone Wild (GGW) files for Chapter 11 bankruptcy after mounting debt and legal issues. The racy girls' video empire seeks protection while disputing multi-million dollar claims including a legal judgment of $10.3 million from Wynn Las Vegas, one of its biggest creditors. Joe Francis is behind Girls Gone Wild and its multiple [...]