The Pope Quits Today, Then Girls Gone Wild Files Bankruptcy, What’s Next … Read It Here
On the Web- Tony Batman’s A Entertainment News – What is this world coming to? Today was the Pope’s last day in the Pope Chair as he resigned the hat, and now the crazy and original “Catch drunk girls on video” company, Girls Gone Wild has filed for bankruptcy. What next a big meteor hitting the earth?… Wait….. Read All About the Girls Gone Wild Deal Below…..
From the HuffingtonPost.com- Girls Gone Wild, the famed adult entertainment franchise, is filing for bankruptcy.
The company filed for Chapter 11 protection Wednesday, the Wall Street Journal reports, in an attempt to prevent the Wynn Las Vegas resort from collecting debt worth $10.3 million as part of a lawsuit against the company’s founder, Joe Francis. Neither Francis nor the lawsuit are mentioned in the bankruptcy filing, according to Bloomberg.
“Girls Gone Wild remains strong as a company and strong financially,” a company spokesman wrote in an e-mail statement to The Huffington Post. “The only reason Girls Gone Wild has elected to file for this reorganization is to re-structure its frivolous and burdensome legal affairs. This Chapter 11 filing will not affect any of Girls Gone Wild’s domestic or international operations. Just like American Airlines and General Motors, it will be business as usual for Girls Gone Wild.”
In 2009, after being sent to Los Angeles County Court over claims he owned the casino a $2 million gambling debt, Francis allegedly claimed the casino’s CEO Steve Wynn threatened to kill him, according to the Hollywood Reporter. A jury ruled that Francis’ allegations constituted defamation and ordered Francis to pay Wynn $20 million.
The gambling debt case was ultimately thrown out in 2011.
Read Full Original Story HERE
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