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Thread: The Real Housewives of New Jersey

  1. #2841
    Vidiot 13 is a Winner Champion Poppy Fields's Avatar
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    Re: The Real Housewives of New Jersey

    Quote Originally Posted by tears.and.rain;3995931;
    That's a shame. I really like him. But there's a difference between business bankruptcy and personal right?
    Yes, there is. Here's a little bit of background:

    Info on Chris's business:

    Bloomberg info:

    Signature Apparel Group, LLC designs, develops, manufactures, and distributes branded apparel in the United States and internationally. The company was founded in 1994 and is based in New York, New York. On September 4, 2009, an involuntary petition for liquidation under Chapter 7 was filed against Signature Apparel Group, LLC in the U.S. Bankruptcy Court for the Southern District of New York.

    Key Executives for Signature Apparel Group, LLC

    Christopher Laurita
    Chief Executive Officer and President

    Signature Apparel Group, LLC Board of Directors
    Joseph Laurita Chairman of the Board of Directors

    (Joseph, a Laurita brother, has been estranged from Caroline and Dina for a decade.)

    Definition of LLC:
    LLC stands for Limited Liability Company - a hybrid of company/corporation. It's akin to an unincorporated association.
    Limited liability does not imply owners are always fully protected from personal liability. Courts frequently pierce the corporate veil of LLCs when some type of fraud or misrepresentation is involved, or where alter ego liability is an issue. "Misrepresentation" can mean just not following the procedures LLCs have to abide by to have that legal identity.

    If you want to know about alter ego liability, you read a brief summary here: Business Law - What is alter ego liability?

    I don't know how this turned out, or if it is still in progress. In any case, it's clear to me he thought this through much more thoroughly than Juicy
    Last edited by Poppy Fields; 07-21-2010 at 06:37 PM.
    "Blessed is the lonesome pioneer." -- Judee Sill (1973, "There's a Rugged Road")

  2. #2842
    Vidiot 13 is a Winner Champion Poppy Fields's Avatar
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    Re: The Real Housewives of New Jersey

    Quote Originally Posted by Goalwatcher;3995878;
    I concur. We've had many family events at the Brownstone and it is wonderful.
    I am happy to hear you like it! But it has an "F" rating with the BBB.
    "Blessed is the lonesome pioneer." -- Judee Sill (1973, "There's a Rugged Road")

  3. #2843
    FORT Fogey
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    Re: The Real Housewives of New Jersey

    Quote Originally Posted by Poppy Fields;3995948;
    I think I recall she blogged that she has some kind of cosmetology license. She waited tables, worked in retail sales, worked in salons, and was a "booth girl" at trade shows - which she referred to as modeling even while admitting it was stretching the definition She met Chris while she was booth-girling a car show.
    Oh I thought it was funny when she referred to it as sort-of modeling. I always like to read Jacqueline's blog because she is silly, and she also places blame where I think it deserves to be. Well, most of the time.

    Thanks for the info! I read it all, but I still don't think I understand. I definitely right now have a lot more sympathy for him than for Juicy Joe, because it IS a bad economy and LOTS of businesses are failing. It's just a little ridiculous to say that and then to have a ninth birthday party for your daughter that probably cost over $2000, including her gift.

  4. #2844
    FORT Fogey
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    Re: The Real Housewives of New Jersey

    When they auction off Teresa's stuff will they do it right out of her house? Do they take it all and move it to another location? Anyone know how that works? It would be mortifying to have Danielle pull up and start buying your crap.

  5. #2845
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    Re: The Real Housewives of New Jersey

    Quote Originally Posted by ubidiah;3996562;
    When they auction off Teresa's stuff will they do it right out of her house? Do they take it all and move it to another location? Anyone know how that works? It would be mortifying to have Danielle pull up and start buying your crap.

    Oh, that would be priceless.

  6. #2846
    FORT Fogey
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    Re: The Real Housewives of New Jersey

    I guess if they all have restraining orders on each other, that can't happen. Eh, it's just as well, as much as I dislike Teresa I'd hate for Danielle to have that moment.

  7. #2847
    FORT Fanatic canuck's Avatar
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    Re: The Real Housewives of New Jersey

    Quote Originally Posted by Poppy Fields;3995825;
    An involuntary chapter 7 case may be commenced under certain circumstances by a petition filed by creditors holding claims against the debtor. 11 U.S.C. 303.

    Chapter 7

    It's when your business's creditors petition to force you into Chapter 7, so that your assets can be liquidated and the proceeds can be distributed to them.
    Always been involved in state court civil litigation, state court, but used to work for BK firm eons ago. I recall something about creditors filing the petition; however, made the mistake of asking an estate planning guy and he quoted me the "shareholder" thingie per Corporations Code. I responded, "Not creditors?" Shook his head "no." He's a quirky dude and I had to explain the question again. It was just a generic question and I stressed "involuntary" twice. Guess I should count my lucky stars I didn't get a crash course in Con Law. I shoulda' known better.

    As always, thanks for the info.

  8. #2848
    Vidiot 13 is a Winner Champion Poppy Fields's Avatar
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    Re: The Real Housewives of New Jersey

    Quote Originally Posted by canuck;3996880;
    As always, thanks for the info.
    I'm not well versed in business law, at all. I was 30 years ago Thank you for checking it out for us!
    "Blessed is the lonesome pioneer." -- Judee Sill (1973, "There's a Rugged Road")

  9. #2849
    Vidiot 13 is a Winner Champion Poppy Fields's Avatar
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    Re: The Real Housewives of New Jersey

    Quote Originally Posted by tears.and.rain;3996141;
    definitely right now have a lot more sympathy for him than for Juicy Joe, because it IS a bad economy and LOTS of businesses are failing. It's just a little ridiculous to say that and then to have a ninth birthday party for your daughter that probably cost over $2000, including her gift.
    Me, too! I confess to feeling a malicious kind of pleasure (schadenfreude) over the Giudices' and Danielle's financial woes. It seems like a just come uppance for their phoniness and posturing. The Lauritas, though, I do feel sorry for and certainly hope they land on their feet - whether or not they remain "well to do."
    "Blessed is the lonesome pioneer." -- Judee Sill (1973, "There's a Rugged Road")

  10. #2850
    FORT Fogey
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    Re: The Real Housewives of New Jersey

    Doesn't it seem like if you don't or can't pay your bills you should have to downgrade your life though? You shouldn't get to keep the fake mansion? I'm not saying toss your arse out on the street, but come on!

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