Hmmm… I just don’t know where the money came from to buy Ashley all those new cars…
What is the Real Housewives of New Jersey’s Jacqueline Laurita’s involvement in her husband, Chris Laurita’s, bankruptcy???… here.
Jacqueline Laurita… hopin’ that the black water biz will help pay off the $8 million the Bankruptcy Court is lookin’ for…
For those of you who wanna get straight info from the court documents…
Translation: Chris and Joe Laurita drained Signature Apparel as much as they possibly could and then transferred ownership to a new owner in exchange for a % of future sales.
Translation: They were ALL havin’ a ton ‘o fun with the money comin’ in… and they KNEW they weren’t supposed to!
Translation: Joe and Chris Laurita (and spouses) are still livin’ the life and the Federal Bankruptcy Trustee for this case is going after them for their personal assets… “piercing the corporate veil”… to satisfy any judgment (monies owed).
Jax and Chris Laurita…
Could this be THE REAL reason why Jax excused herself from the RHONJ Reunion Show? Miss Andy was havin’ a field day grillin’ Tree with questions re Tree’s bankruptcy. Jax knew that either Tree or Miss Andy would have gone after her (possibly…) when the bankruptcy issue was being “discussed” with Tree…
NOTE: I don’t believe for one second the lame excuse that Don Caro gave for Jax not participating in the NJ reunion show… “Jax was too mentally and physically exhausted.” However, many, many viewers were NOT aware of Chris and Jax’ money problems… unless you read Chris Laurita’s page on SH (here)… and there was the very good chance that Jax’ financial info was going to be mentioned on the Reunion Show. Don Caro probably pulled one of those “big Manzo/Laurita meetings” and it was decided that the wrath of Miss Andy and possible lawsuits brought against Jax for not showing up per her Bravo contract were worth the risk. Don Caro does not like to be seen in an ugly light and Jax/Chris Laurita’s being sued by the Bankruptcy Trustee would reflect on Don Caro.
Don Caro got lots of stuff she’s trying to shove down people’s throats via her website… to buy (her Brown sauce), to ask (her advice!), to recommend (Lauren as a…cough, cough…makeup expert) and reference (her recipes). Oh, and let’s not forget her “BOYZ” black water crap!
So, the chance that Jax’ bankruptcy issue coming up and being broadcast to a national audience was not a chance they were willing to take. Unfortunately, Don Caro’s trying to cover up a little too late… like Danny Provenzano said when he escorted Danielle to the Brownstone, “A punk is a punk…. and da Manzo’s are punks.” Little did we know that he may have been on to something!
(Thanks to SH readers “TC” “Chameleon” and “DebWeb”!!)
lmao @ “her Brown sauce”
wash that brown sauce down with some sludge water and you got yourself a meal deal….yummm!….upsize me!!
Nice job, SH! Ive never seen the words “alter ego” in legal docs before! This is prob why Chris kept saying he didnt own multiple cars to Ashliiii at the dealer, right? She tried to call him out and he kept denying it. People not in my family know how many cars we own (1). Theres no real discrepency there!
I hope all these people get locked up and severely fined for bankruptcy fraud, its,not fair to the rest of us bystanders to be left holding the bag.
“Alter ego” is a pretty standard legal term in the corporate world. It just means the business is an LLC/corporation in name only. Of course, just because it’s in the Plaintiff’s complaint doesn’t mean it’s actually true.
I remember watching the New Jersey Housewives once, and it was Jac turn, and their three car garage was closing and there was a navy blue BENTLEY in there.
^ I know. Reminds me of “the brown word” from “Serial Mom.”
I think now that it was brilliant what T say in the reunion that they only owed $8 million, is’nt what the Lauritas are being sue for?
and Jac was saying that Tree is scum – it seems like they are more alike than Jac would like people to know!! I would quit it with the drunk twittering!
That’s what kills me about everyone nailing Tree all the time. She could had easily shouted out about Jackie’s $$ problems, but didn’t. But Miss Andy sure was relentless on hers. And Caroline sitting there with her ugly mug pretending everything’s wonderful in the Manzo/Laurita worlds. “Those without sin cast the first stone”.
Trust me, if Jackie is having all these mental problems, it’s sure not just from Tree, for now the truth has come out. And dear Miss Ashley has been no picnic. I wonder if Jackie doesn’t have a drinking problem, for she was always with a glass of wine! Did the rest of yall notice that?
Did anyone see her and Albert in costume yesterday on the Rosie O’Donnell show? Call it what you will, but I thought they looked pretty ridiculous. Really surprised Albert subjected himself to do that. And as always, Caroline sat there talking about her perfect kids. Sure!!!
That’s right. Tre didn’t say anything about Jac’s money problems. Tre and Kathy might be in a tie for the “best” person on the show.
You guys are so right!!! Teresa kept her cool and held on to the information that she knew about the others very well. Something that was funny to me is that today MeGo posted some comments on Twitter about Teresa’s recent blog. One post said:
“melissagorgaMelissa Gorga
Finally admits she wishes her brother would have married someone else that she could walk on.”
Well Teresa never even said that in her blog (unless I missed it somewhere)!!! Where did MeGo even get that from?? MeGo and JoGo made comments about it. Personally I didn’t find anything wrong with Terea’s blog, it was honest and open. I for one enjoyed it! So the Manzo/Laurita clan are a little quiet today but the Gorgas are taking over for them…
MY MY People in glass houses!!!Karmas a bitch Jax
LOVED the way you put it Leigh!!
Who would have thought Danny Provenzano was right on the money about the Manzo’s?!?
Personally, I do think the Manzo boys are pretty good guys. They’re not perfect tho like Caroline tries to put on. I think there’s a lot of deep dark secrets in that Manzo household tho that will trickle out eventually. Like Leigh said, “karma’s a bitch”. I bet ol’ Danielle is laughing her butt off over all of this…………she’s no longer there and the RHNJ world is crumbling down. Miss Andy needs to be careful who he plays favortism with.
T is dumb as a fox.
i’m likin’ her more every day
You gotta love this story. Keep up the good work.
I bet the next bankruptcy Petitioners will be the Gorgas – no way Little Joe makes enough to support that life style by robbing from the poor stay rich. Who did the Laurita Defendants transfer the property to, do we know? I was wondering if they like sold worthless shares of stock, or transferred to another family member. Where did the money come from and where did it go? Very interesting Ms SH, I love your site!
MaryAnn: Which property are you referring to? Signature Apparel made over $250 million in a short period of time… in which Joe and Chris Laurita took the profits and doled out money to their spouses and kids. The Bankrupty Trustee is suing Jax and Joe’s wives because they were well aware of where the money was coming from… and they want that money back. Joe and Chris also diverted funds into other companies they owned… totally draining Signature Apparel… and then they filed bankruptcy. How stoopid can they be??
Not only that, but they then changed it from a chapter 7 bankruptcy filing to a chapter 11… which then gets taken over by a Trustee, who is gonna go over every line item in your company to make sure that there was no funny business as to WHY they filed for bankruptcy in the first place. The Trustee is doin’ his job and overturning every rock to find where the money went… and it all went to Joe and Chris. Like the documents said… the company was their “alter ego.” Bad… very bad.
There was also a line in the documents where Jax/Chris “invested” in Michael Imperioli’s B’Way theater venture. Interesting, as Dina also had a B’Way play going on at the time… Hmmm! Just don’t have time look into that link now… TFC!! SH
Ms. SH, there were two lawsuit filings from Anthony Labrosciano on Friday on behalf of Signature Apparel Group. I can’t find out any additional info on it, but maybe you can. There was one for Hurley International and an Asian company, Dahiwa.
Doesn’t everyone who earns a living dole out “profits” to their spouse though? I mean, I don’t look into whether the company my husband works for is legit, but I assume it is and I share in his salary. Unless Jax was working for and involved in the daily aspects of the business, I don’t really see how it could be considered her alter ego. I mean, it’s not like she’s got a savvy business background.
I love how this group finds all this juicey info!! Especially you SH!! This states Jackie was fully aware she wasn’t supposed to be spending that money. But I honestly don’t think Tree was aware of their money problems. Joe must had kept her in the dark to all of that. Or so it seems. So Jackie has no right to run anyone down.
Of course the Plaintiff’s complaint would state that….they have to prove it in order to win their case? However, just because it’s in the complaint doesn’t mean it’s true or that she had any actual knowledge. It’s just what the trustee is alleging so that he can include her in the proceedings. I mean, we’re talking about a Jax here, not some savvy business lady. In that regard, I think she’s just as much in the dark as Tre.
I bet you’re right Mary Ann, hadn’t thought about that. Cause Mel spends $$ like there’s no tomorrow and I think poor ‘ol dense Joe is clueless. But he gave her some top dollar gifts for Christmas. Wonder if that wasn’t to impress the audience? Mel best watch it for she’s not near as slick as she think she is. And she had the nerve to tell Tree, “you’re turning evil” or something like that. She needs to look in the mirror to see what evil looks like.
My my, $250 million dollars over a period of 4 years that’s good money, i hope the trusty win this damn case.
OMG…Trustee…LOL
@Elviskat, i think the items were already in use. They just play it up for the cameras.
I remember when Joe asked Melissa if she loved him after he gave her the Rolex and those porn-star high heels. Something kinda sad and real about that moment.
Great point, SplitInfinitive.
Wasn’t Jac saying that Teresa acts like she has no problems and keeps spending money. She has been doing the exact same thing. Next we’ll be hearing about MeGo having the same problems. They are all living in a dream world. And – everybody is watching.
On display, On display!
Cathy: MeGo DOES have money problems. JoGo threw a ton of money into that recording studio betting that her singing career would rocket and pay off the studio. That ain’t happening. TFC!! SH
Hence they’ll appear at the opening of an envelope.
Gees MsSH sure doesn’t look like that is going to happen does it! Stoopid Housewives is my entertainment on and off all day. Love it!
Countless said it best: “Life is but a dream, when every day you’re livin’ in is featured on TV!”
Wonder how the Don will try and explain this one!! Just amazing that Jax trashed T for her bk
But they already have done everything she said t & Joe were doing!
I have a sneaky suspicision that Jax is going to tweet that this exposure is all Tre’s fault. lol Can’t hang this one on Tre… sorry Jax. Love it. And I agree… this is why she skipped the reunion! Don Caro is puppeteer!
Hey – I have a pair of Rocawear jeans. Got them about 5 years ago at TJ Maxx. Guess that might explain why the jeans weren’t selling at full price! Never would have thought the Lauritas would be involved with that brand.
Danielle is somewhere laughing her ASS off right now!!!!
She’s irrelavant now…thank goodness
Should Bravo do a better background check on these people? Does Bravo put that much pressure for the housewives ($$). Are we watching how rich they are or the dynamics and personalities of these programs? Did anyone see that movie with Demi Moore “The Jonesess” the concept was interesting????? Back to HWONJ; maybe they should scratch and start all over with new people?
I saw the movie. It was so interesting. Talk about excess. I do not think Bravo puts DIRECT pressure but I do think there are some hints being dropped from Bravo to keep a Joneses lifestyle.
I saw that movie and loved it. Kim Z had a small part in that movie but it was scrapped and with good reason LMAO
I’ve often wondered if being rich is a criteria to appear on the RH shows? ??? Or should I say bankruptcy, fake rich?
I think they do it FOR the money, “Ship is sinking, this can keep us afloat!”
Maybe, just maybe, Bravo is doing investigative journalism disguised as “reality TV.”
Is it not odd that these people sign on with huge skeletons in their closets (pick a housewife), flaunting some gaudy lifestyle to the general public knowing full well how they got the money, and then they end up with egg on their faces when criminal activities are exposed and prosecuted?
It is brilliant. Andy Cohen is just fruity enough to keep up the masquerade and hide the real purpose of this show which is exposing, liars, cheats, frauds, scammers, and criminals who stop at nothing to destroy innocent people and demand taxpayers pay for their lifestyles. If that is the mission, good for them and godspeed.
Some of the more clean “actors” could be in on the expose’.
When you have narcissistic personality disorder (also called Attention Whore Syndrome), it’s not odd that these women sign their lives away in order to be “famous” on a reality TV show.
Just sayin’!
Lol! AWS…brilliant.
Livin’ on CREDIT…It’s the American dream, don’t ya know?
LOL! Apparently the AW Syndrome is susceptible to the opportunistic bacteria Myshitdontstink vulgaris.
It appears to be familial as the Kardashians also have it in abundance.
I like the way you think, Sistah T.
Thanks
! Every now and then, my two brain cells with bump into each other.
Caro was so busy calling Danielle garbage, that she did not realize that she has garbage in her own family that would one day be exposed. These people are WAY WORSE than Danielle. They are crooks and I hope should go to jail for fraud. Discusting. They are an example as to what is wrong with America today. This is why the country is broke and honest people like myself are suffering for it.
Now…. I’m not sure they’re actually worse than Danielle in her heyday, but yes… I see your point there.
Couldn’t agree more..
Geez, they’re going to have to change the name of the show to Real Housewives of Bankruptcy. Traylor will be able to be on TWO shows!
Nah, I think they only need one major word change: Real to Fake. Fake Housewives of …
then that would be truth in labeling!
No they need to change the name of the shows to housewives who beat the Uncle Sam and almost got away with it
Amazing. It really is!
These people are all shysters and think the rules don’t apply to them ,never them!
Can’t wait for a drunk,angry Jac to start vaguely ranting about mysterious things that no one can understand at all. Maybe if you read them drunk as well, it balances out. If they were interesting in any way I’d try it.
Congrats Jac. Escort/stripper and nice big lawsuit, and you’re supposed to be the nice one of the bunch?
Hey, it’s Jersey.
I hope Chris Laurita isn’t leaving the marketing and sales of blk in the hands of never went to college Criddafur, doesn’t take anything seriously BGGreggy and I quit when things get tough Albie. Those Canadian investors better just cut their losses and pull out of their partnership with this gang bc it’s not looking good. I havn’t analyzed the P&L statement for blk… just a hunch.
That dumbass Albie once called Chris Laurita his “mentor”. Yeah ,Uncle Chris is really someone to look up to. He is a crook. Go back to the Brownstone Albie!!! You’ll be better off.
You all are so funny! Thanks Ms SH for breaking it down for me. Remember before the show aired and there was that crazy blog (the hour’s worth of reading) that all of the RH’s were posting on… I kind of remember Ashley saying they were picked for the show because their family is so funny and entertaining. Now, the jokes on them – being exposed like this. There are so many skeletons in those big, gigantic closets – WOW. I can’t wait for the fall of the Gorga’s. I want to see MeGo sitting on a front stoop doing her camera interviews, instead of that grand staircase, dressed in Walmart clothes, oooo that would make my day.
Ummm, I have a delicate question about Blk. (I feel foolish even typing that. It’s stupid. Blk)
Does it produce black bodily waste products of both kinds?
I want Nettie Laurita and Mrs. Grippe to get in screaming twitter matches with random people again today. They are f’ing hilarious, and like Jac, don’t quite know when to dial it back or tone it down.
I swear I almost wet my pants laughing at Nettie’s tweets one day. Cover your eyes…this is gonna be loud. This is what I recall her writing when things got hot one day.
Ready?
STOP IT!!!! EVERYONE STOP IT NOW< NOW< NOW!!!!
I MEAN IT! STOP!!
So,bgrippe takes it to heart and thinks she's screaming at her, and signs off in a huff.
LOL Candace! Can you tell me their tweet accounts so I can check it out?
@bgrippe is Jax mom and sorry, can’t recall Nettie’s. Google Nettie Laurita twitter and should show right up.
The funny exchange was about a week or so back. You’ll know you’ve hit it when you run into a solid wall of screaming caps from dear sweet Nettie.
One caveat…if you react like I did,you might want a quick trip to the loo first.
I fully expected the old lady to pop out of my screen,brandishing a wooden spoon.
ROFLMAO!! Thanks Candace! While in the bathroom I thing I’ll sing in the shower, record it and get it on ITunes. Then maybe I won’t have to file bankruptcy, I can keep my Dollar General credit card, Netflix AND maybe, just maybe get Direct TV!
to sing in the shower, record it, and get someone to post in on Itunes. Maybe I won’t have to file bankruptcy and I can afford Netflix AND Direct TV!
Sorry about the double post up there, my kitten just walked over my laptop.
i hate when that happens..
I’m so afraid of what he’s going to tweet for me some time……….
The tweet I mentioned was from OCT 21.
Picture her like one of those online pop up screamers when you read it.
OMG Halloween all over again…….
You know what, i believe that they gang up on Tre to hide their own troubles, but without Tre knowing. Unknowingly they have brought attention to themselves. because i have heard of the company filing for BK, but i did not know Jac is now involved .
From reading the documents, these are just allegations and the owners of the company wants close to 8M dollars.
These are more than just allegations. There is proof that money was moved around to family members and for personal items. That is fraud. They are in big trouble.
I haven’t seen too many tweets from the Manzos/Lauritas today. Could they all be on on twitter lockdown imposed by Don Caro? And I bet Jax has a 24/7 babysitter to monitor wine and twitters. This also might be another reason why Ash is in CA bill free. That girl couldn’t keep a secret to save her life, bless her heart. Excuse me while I go file for bankruptcy. My Dollar General, Kmart and Target credit cards are maxed out and I can’t make the car payments for my 1997 Dodge Daytona. The Netflix monthly fee increase is the straw that broke the camel’s (not Mohamed’s) back. Damn my over indulgent lifestyle!
Laying low and being quiet,eh?
That’s not the lovely ladies we’ve come to know so well. Very unusual.
Getting everybody’s story straight. And probably busy reassuring all of New Star Groups clients.
@Kattitude….HOLD UP…Dollar General has a store credit card, shoot, i gotta go apply…LOL
Fuhget about Kmart. They’ve filed “legal” bankruptcy on more than one occasion and have left a bunch of destruction themselves.
You reap what you sow…. What comes around goes around. It’s going to get a lot crazier now… Can’t wait to see how they try and blame everything on Teresa.
So true!
The Radaronline article provided exact dollar amounts, like $145,894 for private jet flights? and leasing for 11 cars?? Whoah!
I also find it entertaining that Caroline has been tweeting about how disgusting Bernie Madoff is for swindling people. She was LIVID about it, calling him garbage and basically tweeting that he deserved everything he got for being a shyster. Huh… funny how when the shoe fits though she refuses to acknowledge it or wear it… What a bunch of hypocrites.
Face it, menopause is hard and she’s not doing it gracefully.
Caroline is ALWAYS pissed about something. Always.
Don’t forget about her bestie Bernie Kerik. Caro thinks he is an angel. Interesting everyone Caro is surrounded by is a crook. Didn’t Tre comment at the reunion something about the Brownstone not making any sense? I bet there will be something in the papers about Caro and Al Sr next.
What did Bernie do?
What did Bernie Kerik do?
Tax fraud and lying to the White House while being vetted for a position with Homeland Security.
Had multiple affairs, used a residence/apartment that was supposed to be for Ground Zero workers or something along those lines.
Caroline was in business with his cheated on wife.
Quick question….Could the Lauritas and the Manzos be fighting over this now? Because it is not just the Laurita Family that is going to go down its the Manzos too. Maybe this could be another layer in the fight Dina and Caroline had? Or maybe I am just stretching it idk……….
Caro is not involved in her brother’s Apparel business but her sons are involved in the New Star Group with Chris Laurita.. Will this filing affect that business?? Caro will not be pleased if this affects her little Albie’s Blk water sales.
Wonder if Don Caro is still proclaiming “we are thick as thieves”.. to anyone who would listen.. she would be a great character witness… for any plaintiffs filing against that bunch !
Excellent point! lol
All of these people on these shows are really crazy. But that is what makes it so interesting to watch. The Lauritas did not just have money troubles from overspending, or lost their business due to hard times. They stole money from the company and sucked it dry to keep up their lavish lifestyle. How do they sleep at night?
This is Kattitude29. Could you please tell me if/why I was blocked? I am unable to post anything using my WordPress id.
I apologize if I said anything to offend anybody.
Hi, this is Kattitude29. Could you please tell me if/why I am blocked from posting? I apologize if I said anything out of line or offended anyone.
I wouldn’t know (obvi), but you’re one of the nicest commenters so it must be some mistake
Thank you! I LOVE this blog and would hate to think I upset someone. I finally found a blog with folks who have the same sense of humor I do.
confused: Have no idea why you were in spam… but you’re out! It happens sometime… don’t know why! LOL!! TFC!! SH
Whew!! I was worried! I usually know when I piss somebody off! lol I was getting ready to go all Maryland on somebody! Just kiddin’. I’ll go back to bein’ Katt now. Thank you SH.
p.s. Love the little pic of ya! lol
I don’t know. I kind of like the “Confused” with the flailing red arms that fit the new name
I agree with you JD, I think they all used Tree as a punching bag this past season to deflect from their own skeleton’s.
Tree is no angel but it’s almost worse to me that the other ladies know of their own messes and feel superior at Tree’s expense.
Danielle was the scapegoat on her season and they all put all their “sins” onto her and faithful to group dynamics the void is filled with Tree and her very publicized issues.
If Tree had any hint of this at the time of the reunion and didn’t say anything I have a new respect for her.
That’s how you should treat someone who’s pain you can understand or have walked through, not trying to expose it and make it worse than it already is..
Thanks for the “translations” SH, I for one needed them!
Has anyone read Teresa’s blog from her personal website? Wowzers, she says a lot more – it is unedited versus the Bravo website.
It’s already gotten a rise out of Melissa and Joe.
Where, where? *frothing at the mouth*
Ms Suburbia you can read the edited version on Bravo’s website and the unedited version at teresagiudice.com
Can’t wait to hear what you guys think about it!
It’s kinda like ipecac syrup, but . . . this (farther down the page) cracked me up: “(I’m sorry though, I can’t apologize to Kim G. for anything because it’s against my religion to worship the devil…).”
Totally hypocritcal of her, but hella funny. Kudos to her writer for that one!
I just posted about this above!! I liked Teresa’s blog and I didn’t find the part in there that MeGo and JoGo are so upset about. I think that the blog was open, honest and to the point.
You didn’t find it because Melissa deliberately twisted Teresa’s words.
I’ve been offline due to losing power here in NJ and here Iam posting in a hotel.. and dang all kinds of interesting stuff broke while I was offline..Jac and Chris will have a little trouble spinning this one LOL and were in the H did he get cash to front BLK water?? Huh guys?? Waiting to hear the Manzos/Lauritas spin this sucka. Teresa lands on her feet again..Thanks for the heads up on her blog SH I gotta go read it now….sounds interesting
Let me get this straight. Jac is so stressed out from bankruptcy proceedings and investigations that she “couldn’t handle” the additional stress of a reunion show. But, Teresa is expected to handle the same stressors and is expected behave like nothings wrong. I’m not taking sides, but logic and knowledge of basic human emotion and psychology basically leans me to believe a good part of Teresa’s erratic behavior this year WAS a result of the stress of her legal and financial troubles. And yet, her friends and FAMILY turned on her as a result. Odd, yet hypocritical at the same time.
Haha Scammers…all of them. How do they think they will keep this stuff secret?
You should check this link: http://www.rwvegas.com/images/rocawear/index.php. Joseph, Chris and Jacqueline Laurita (Ashley and young son are there also) hanging with Jay-Z , Damon Dash and Michael imperioli. I think that their bankrupt company was doing the Rocwear line. Plus, Joseph Laurita seems to be very involved in the entertainment business: he produced Micheal Imperioli’s movie.
I read the bankruptcy docs in their entirety. First, just because someone makes a “complaint” doesn’t mean it’s true. Someone itemizing what they claim are “fraudulent transfers” is hardly proof. It is probably difficult for those who aren’t in the legal field to shift through the legal jargon and get the facts. I’ve practiced law for over 13 years now, and this is just legal jargon that amounts to nothing. The gist of this is that in 2009 jacqueline’s husband and bil owned a business
– one of several. One of the vendors filed legal docs forcing the business into Chapter 11 bankruptcy in an effort to have the business restructure and pay some of it’s debts. However, the business itself then converted it to a Chapter 7 bankruptcy. This current lawsuit is from one of the vendors that is saying that any of the payments the business ever made to either of the owners should be paid back. There is not ONE claim in the lawsuit that directly links any payments to Jaq Laurita. In fact, the payments that were made to either of the Laurita brothers and/or the other businesses were done on a regular schedule and were loan paybacks to them. In other words, the brothers and their businesses put in cash to start up the business. The money to buy the licenses had to come from somewhere….it’s certainly not likely that a business started with zero cash, so it’s quite common in business that the owners loan the cash to the business. Also, the owners received a salary, and these salary payments are included in the $$ the person claims should be returned and paid. Well, law requires a business to pay salaries…so this claim fails. The “family payments” that they claim were paid for family bills were paid in lieu of them paying the brothers money that was owed them. Something else that is missing from all of this is that the brothers also didn’t get all of their money back from the business either. They lost substantial money in this business as well, so it’s not just vendors.
The entire purpose of this suit is to pierce the corporate veil to go after personal assets of the families. What that means is that the vendor made loads of claims just going after everything and making loads of claims in an effort to open up discovery and “fish” for anything that will make any of these claims he’s making true. This is a very common practice in business. The owners have other businesses and they have other income and the vendor wants a piece of it. However, we have laws that prevent this. And anyone that owns a business should be glad. If you have a business that fails, should people be able to go after everything your spouse or family owns? That’s what this person is trying to do. People who don’t know squat about legal matters really have NO business reporting/commenting on legal matters and claiming them as fact w/o first speaking to someone that knows what’s going on and what it all means. I could go out right this second and file a lawsuit against anyone (even the blog writer) for anything I wanted to. Does that make my lawsuit fact? No. It’s just a complaint. So if I did that against the blog writer (which by the way I’m not, and just using it as an example) and a news paper picked it up and reported it as though the blog owner did these things to me for a fact, does that make it true? I would hope not. My point being, this is NOT fact. From reading all of the docs it appears as though it’s just baseless allegations from someone that forced the business into bankruptcy and when it didn’t go as planned then he got pissed and wants the families to personally pay. Now, if you want to see what is real fact, wait to see how the judge rules on it after there has been actual evidence submitted. That would be a better indicator. Not saying that none of this is true, but in my experience, these types of suits are 95% baseless and usually thrown out as baseless. To jump to conclusions at this point is just wrong.
trista: The documents ARE fact. The numbers included in the filing were NOT just picked out of the air. YOU have no idea what you are talking about. If you did, you would realize that every word in the bankruptcy complaint AGAINST the Lauritas are true. This is NOT simply “a person” filing a claim against them… it’s a Federal Bankruptcy Trustee!! A Federal Banruptcy Trustee is NOT going to file a complaint against the Lauritas because they don’t have anything better to do.
Get YOUR facts straight! SH
SH:
It was the Trustee that filed suit in this particular case against the Lauritas. I tried to correct that (and a few other things) in my post, but correcting posts from an I-Pad proved to be quite difficult – if not impossible. For that I do apologize. I assumed that the general message of the post would be conveyed (which was not to base 100% guilt on a Complaint, but wait until there is a ruling), but I guess we all know what happens when one assumes.
You are correct in your statement that the numbers were not just “picked out of the air.” And I stated as much in my post. These amounts were ascertained by calculating every dollar that was EVER paid to the Laurita brothers, their businesses and/or other expenses (credit cards, etc.) throughout their entire ownership of the business. However, it is not FACT that these payments were fraudulent; as these payments are (or can be) legitimate business expenses and payments to the owners or their other businesses (investors/creditors). In the Complaint there is a listing of payments that the Trustee claims are suspect, but these payments appear to be very similar in amount and at regular intervals. This lends credibility to the statement that these payments are salaries (which an owner is allowed –and even required by law to take) and/or loan repayments from the owners that provided the cash to open the business to begin with. Some of these were made within a one-year “window” of the bankruptcy filing, which leaves those payments open to be looked into further and it is very possible that some of it would have to be paid back under certain circumstances. It would be crazy to think that “Signature Apparel” was able to purchase license(s) with ZERO money or loans from the owners and even more crazy to say that someone in business for themselves is not allowed to receive compensation for their work. If you can’t pay yourself for your work, what’s the point in going into business for yourself? In their Answer to the Complaint, they state that the payments were in FACT made as alleged in the Complaint. HOWEVER, that the payments were made to reimburse them for loans they (and even the Laurita’s other businesses and family members) provided to Signature to fund Signature’s business ventures, and that payments were also made to reimburse them for credit card charges that were incurred to fund the business operations, and also as compensation for their services (salary). So, are you trying to say that the Laurita’s should not have received a salary and they shouldn’t have received repayment for loans they gave the business? It must be pointed out here that the amount is the TOTAL paid to them. It’s not saying that this was the amount above and beyond what the trustee claims should have been paid or even in the year look-back. Also, the Laurita brothers claim (based on the Proofs of Claim referenced in the Complaint) that they also lost money in this business venture and that they are also owed money that they loaned the business. Am I stating that it’s a FACT that ALL of the expenses are legitimate and allowed? NO! Just that it’s not a FACT that they weren’t and guilt can’t be decided based on allegations in a Complaint. BTW…the same goes for Teresa’s bankruptcy. As much as she drives me insane, in my eyes she is not guilty for all she is accused of until a judge has decided on ALL facts and applied the law appropriately.
It is VERY common for a lawyer (or bankruptcy Trustee) to file a Complaint in a situation like this. In this particular situation, you have a business that failed and the owners have additional businesses that are successful and they also appear to be doing well financially. It is a trustee’s job to look at the payments that were made to these owners and their other businesses and families (especially in a one-year period) before the bankruptcy. It is VERY common practice and often times that a trustee files suit and “throws the book at someone” in an effort to shift the burden to the Defendants and force them to answer Discovery (provide answers, documents and testimony) that can prove or support their claim that (in this case) the expenses were legitimate and/or that they weren’t done with the intent to hinder/harm the business (and other reasons). Commonly, a trustee will later amend the Complaint to drop most of the claims and leave only those that fit the evidence and/or dismiss the Complaint entirely after evidence is provided to back-up the Defendants’ position and the evidence doesn’t support the Trustee’s original theory. Also, it is common for a Complaint to be filed in an attempt to not miss a Statute of Limitation deadline (time limit which would bar claims past a certain date) because on the surface it appears there COULD be some wrong-doing and this will allow them to “fish” for more information as noted above. Not necessarily because it’s a FACT that the allegations are true, but because there is a POSSIBILITY that the behavior/act occurred. If it were FACT that everything the Trustee claimed is true then what would be the purpose in having a judge determine if the allegations are valid and supported by evidence?
Let me be clear, that I am NOT saying that there are NO claims or allegations that are valid. Common sense tells me that there is more than likely something that will come out of this particular one. It’s just that corporate/bankruptcy law is VERY complicated and it’s not always what it appears to be on its face. There are MANY different factors/circumstances that will not come out until ALL evidence is gathered…and even then we probably will never get the ENTIRE story. Please be assured that I give you all due respect and am not attempting to discredit you by any means. I just worry about people reading something and not understanding the legal system and that there are numerous variables and legal strategies and jargon used in a legal proceeding; and they in turn process it as the “gospel” (so to speak).
Trista
Well, as a person who doesn’t understand legal speak, I do have a question. Why on earth would the Lauritas be able to get back any of the money that they put into this business venture before any other creditor gets paid? That doesn’t make sense. They obviously failed at this clothing business, so the people who they owe money to get paid first. It makes it even worse to me that they would try and pay themselves anything while other businesses get bilked out of money.
trista: I have not read all the pleadings or the Petition in this case, but if the one linked to from the Radar site above is the one you are referring to, I think your analysis may not be quite accurate. The pleading indicates to me that contrary to your time line, a creditor did file an involuntary chapter 7 against Signature. Signature moved to convert the case to a Chapter 11 reorganization. The recovery action was filed by the Debtor not a creditor to recover not just fraudulent payments but voidable preference payments.
As I’m sure you know, debtors cannot choose to pay some of their creditors to the detriment of others–hence the term “preferential.” As I’m sure you know, transfers made to creditors within 90 days of filing the petition can and often are challenged by the trustee as voidable –in other words, if the payment was not made in the ordinary course of business the preferred creditor has to give the money back. As I’m also sure you know, directors and owners and their families operate under a one year look back provision.
While it is true that there are no specific amounts directly tagged to Jac, to the extent the trustee can trace any of the payments to Chris into a joint account, or through to Jac alone then he can attempt to recover them. You are correct that thus far these are allegations and they have been denied. But the black and white reality is that checks were written or monies were transferred in specific amounts on dates within one year of the filing. Whether and to what extent they are recoverable waits for a trial.
Finally, while your scenario that these are just businessmen trying to get their money back out of the business that they put in, obviously they say that all the time–which is why shareholders and owners are at the bottom of the list for payments–they get paid last.
It would seem that somebody took jax’s phone and computer away from her.
She should be a tweeting fool over T blog. And nothing..ummmmm
She might be “putting on a happy face and pretending every thing is alright” like they all got mad when Tree did. The karma is a full circle sorta biznitch. When Tree did it(glossed over or ignored), they accused her of living in denial but when they do it(prolly on advise of attorney) its suppose to be alright. Now Jax knows what its like and knows it really doesn’t matter what answer one gives out to the twittersphere taint gonna make no diffrence no ways.
Is there a connection between Ramona & Chris Laurita? Both are/were garment industry jobbers. Very niche occupation. They surely knew each other. Albe says Jax was the first cast on NJ.
So Jax is tweeting again. She is saying that all is well and we will see that they are doing good.
That it isnt the same as T & Joe.
I have always wondered why T & Joe filed personal and not biz. Most of the debt was his Biz
Seems like they made a bad choice on the filing. Anyone know why they did it that way?
Yeah she is in denial like Teresa. How could everything be so great? If it does not make sense, it isn’t true. Her hubby probably told her everything is fine, and she believes him like a good little wifey. Jaq better get off her ass and start selling that Blk water like crazy.
I just saw her tweets as well. It’s really funny that she always has to bring up Teresa’s name. Can these people not speak for themselves without comparing themselves to Teresa?
Seems to me all they are doing is making more and more people take T side.
Its not that I think what they did was ok. Tho I really don’t think T knew what kind of trouble they were in. I just don’t think she was involved with Joe biz other than signing where he told her to. Sorry back on point I think people are just sick and tired of all the blame and bullying done to T.
bgrippe just tweeted that the financial problems are old news and it has already been taken care of. Wasn’t the law suit just filed? Isn’t it an active investigation? Jaq probably told her that. These idiots should get off twitter.
The case is still open according to JonesGroupData.com
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