Tag Archives: washington dc bankruptcy attorney

Washington D.C. Bankruptcy Attorney: Gossip Girl Actress Files For Chapter 7 Bankruptcy

According to the Associated Press, Gossip Girl actress Kelly Rutherford has filed for Chapter 7 bankruptcy after losing most of her fortune in a divorce battle with her ex-husband Daniel Giersch. According to the AP, court documents indicate that Rutherford has “debts of over $2 million and no means to pay them with a reported monthly income of less than $1,300.” The actress reportedly spent more than $1.5 million battling her ex-husband over custody of their two children. Rutherford wed Giersch in 2006 and gave birth to their son the same year. The couple split in 2009, while she was pregnant with their daughter. Giersch, who now lives in Monaco, was awarded custody of the two children, while Rutherford was given permission to visit them in between acting jobs, according to the AP. Divorces can be financially stressful—it is not uncommon for a person to file for bankruptcy following a…
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Washington DC Bankruptcy Lawyer: Former Arkansas Coach John L. Smith Reaches Settlement With Creditors

Updating a blog post from last fall, former Arkansas Razorbacks football coach John L. Smith has reached a settlement with his bankruptcy trustee to return money he allegedly gave away or transferred before he filed for Chapter 7 bankruptcy last year. According to Arkansas Business, Smith, his wife and children will return $165,000 in cash and $600,000 in property to settle the “fraudulent transfer” claims. John Lee, Smith’s trustee, said that between 2008 and 2012, Smith and his wife transferred $525,000 to his wife’s revocable trust. Also during that period, Smith and his wife gave their children $120,000. Arkansas Business also reports that in addition to the money, the settlement will include 44 acres of undeveloped land in Jefferson County, Kentucky, valued at about $600,000. In February, creditors sued Smith to prevent him from discharging nearly $18 million in debt. Smith’s debt was reportedly at $40 million at the time…
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Washington DC Bankruptcy Lawyer: Reader’s Digest Files for Bankruptcy

RDA Holding Co., which publishes Reader’s Digest, has filed for Chapter 11 bankruptcy. It is the second bankruptcy filing in four years for the publisher, which listed more than $1.1 billion in assets and about $1.2 billion in liabilities on its bankruptcy petition, filed last week in the U.S. Bankruptcy Court in White Plains, N.Y. “The Chapter 11 process, which will facilitate a significant debt reduction, will enable us to continue to redefine our business by focusing our resources on our strong North America publishing brands, which have shown a new vitality as a result of our transformation efforts, particularly in the digital arena,” Chief Executive Bob Guth said in a statement following the filing. RDA is based in New York with operations in 41 other countries, prints 75 magazines, including 49 different versions of its namesake publication. Much like a Chapter 11 bankruptcy, Chapter 13 and Chapter 7 bankruptcies…
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