Girls Gone Bankrupt

softball · 02-28-2013

Girls Gone Wild, the softcore video empire founded by Joseph Francis, has filed for bankruptcy after accruing millions of dollars in debt, mostly to casino mogul Steve Wynn.
The various incarnations of Girls Gone Wild, including GGW Brands LLC, GGW Direct LLC, GGW Events LLC and GGW Magazines LLC, filed for Chapter 11 bankruptcy protection Wednesday in U.S. Bankruptcy Court for the Central District of California in Los Angeles.
In documents filed with the court, GGW manager Chris Dale said the company has less than $50,000 in assets and fewer than 50 creditors. The debtor checked the box claiming "there will be no funds available for distribution to unsecured creditors."
The biggest claim was for $10.3 million from Wynn Las Vegas. Total debts exceed $16 million.

http://money.cnn.com/2013/02/28/news...rls-gone-wild/

RawAlex · 03-01-2013

A classic dodge. With all the parts of the business under different ownership groups and company names, he just ran them into the ground and will move on, getting away from his liabilities.

The casino debts are mostly lawsuits in the favor of Wynn.

Is there hope that his extended 15 minutes of fame could be over?

Hell Puppy · 03-09-2013

Idiotic on so many levels.

How fucked up are you financially when your gambling bankrupts all of your companies. Talk about piercing that corporate veil. He blasted it with a shotgun.

02-28-2013	#1
softball Members Want to see your own Advertising Here! Join Date: Jul 2005 Posts: 6,165	Girls Gone Bankrupt Girls Gone Wild, the softcore video empire founded by Joseph Francis, has filed for bankruptcy after accruing millions of dollars in debt, mostly to casino mogul Steve Wynn. The various incarnations of Girls Gone Wild, including GGW Brands LLC, GGW Direct LLC, GGW Events LLC and GGW Magazines LLC, filed for Chapter 11 bankruptcy protection Wednesday in U.S. Bankruptcy Court for the Central District of California in Los Angeles. In documents filed with the court, GGW manager Chris Dale said the company has less than $50,000 in assets and fewer than 50 creditors. The debtor checked the box claiming "there will be no funds available for distribution to unsecured creditors." The biggest claim was for $10.3 million from Wynn Las Vegas. Total debts exceed $16 million. http://money.cnn.com/2013/02/28/news...rls-gone-wild/

03-01-2013	#2
RawAlex Members $100 for every ImLive sign-up Join Date: Oct 2002 Posts: 4,036	Re: Girls Gone Bankrupt A classic dodge. With all the parts of the business under different ownership groups and company names, he just ran them into the ground and will move on, getting away from his liabilities. The casino debts are mostly lawsuits in the favor of Wynn. Is there hope that his extended 15 minutes of fame could be over? __________________ Let's go to the edge of disaster Push the pedal and go a little faster Let's slam into a wall at ramming speed Let's go to the edge of a mountain Jump off and lets start countin' Hit the ground and tell me if it bleeds

03-09-2013	#3
Hell Puppy Fat Fucking Nobody Want to see your own Advertising Here! Join Date: Oct 2002 Posts: 6,523	Re: Girls Gone Bankrupt Idiotic on so many levels. How fucked up are you financially when your gambling bankrupts all of your companies. Talk about piercing that corporate veil. He blasted it with a shotgun.