Earlier in October, the same New York State Bankruptcy Court imposed the company’s plan on the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union, despite having 92 percent of the union members reject the proposal. At the time Hostess filed for bankruptcy protection (Jan. 11), the BCTGM union was the company’s largest unsecured creditor, with debts totaling $944.2 million. Hostess’ other large union, the International Brotherhood of Teamsters, narrowly approved the contract modifications in September.
Source: foodprocessing.com
Video: How To File Bankruptcy Without a Lawyer
Rich Dad Author Files for Bankruptcy
According to RadioFacts.com Robert Kiyosaki files for Bankruptcy. You make millions off a book talking about how you have learned the lessons of finance then you file for bankruptcy? Robert Kiyosaki, the financial self-help books guru who has written a ton of books and given seminars around the world for his best seller “Rich Dad Poor Dad” has filed for bankruptcy for one of his companies after losing a $24 million court judgment after being ordered to pay nearly $24 million to the Learning Annex and its founder and chairman, Bill Zanker.
Source: praisedc.com
"Rich Dad, Poor Dad" author files for bankruptcy
Toxic Fraudsters and Psychopaths sometimes end up that way. If only they would ALWAYS end up that way. Note: This was one of this dudes earliest business partners. A company called "Learning Annex" promoted his books, and touring circuit, helped him build his personal brand. "Learning Annex" did all this work for a percentage. Then this sleazy sheister tried to off-shore his profits, and convolute his assets in a bunch of shadow and ghost companies. He got caught, and the sleaz-ball is getting run through a wringer.
Source: godlikeproductions.com
Rich Dad, Poor Dad Author Files For Bankruptcy Protection
A reactionary bankruptcy is when someone files bankruptcy in response to a major life event. These bankruptcies are generally filed in response to death, divorce, job loss, or serious medical problems. While these kinds of bankruptcies benefit the filer, they are generally done on someone else’s schedule. The Kiyosaki bankruptcy could be considered reactionary, but I’m guessing that his attorneys advised him to only file in the event that he couldn’t settle the lawsuit for less. This moves him from a reactionary filing to a strategic filing.
Source: sulaimanlaw.com
‘Rich Dad, Poor Dad’ Author Files Bankruptcy
Zanker tells the New York Post, “I took Kiyosaki’s brand and made it bigger. The deal was I would get a percentage, and he reneged. We had a signed letter of intent. The Learning Annex is the greatest promoter. We put his ‘Rich Dad’ brand on a stage. We truly prepared him for great fame and riches. But when it was time for him to pay up, he said ‘no.’ ” This has taken years in court. I won even more money than I asked for from the jury, then he declared corporate bankruptcy. Oprah believed in him, and Will Smith believed in him, but he didn’t keep his promise to us.”
Source: rollingout.com
Robert Kiyosaki, author of Rich Dad Poor Dad files for bankruptcy
The bankruptcy does not mean that Kiyosaki has gone personally bankrupt. On the contrary, he only made a business move to protect his personal and business assets outside Rich Global LLC. Companies file for bankruptcy when their liabilities are in excess of net realizable value of assets. Kiyosaki, in a business move to protect himself from the full impact of the judgment, has simply moved from doing business under the name of Rich Global LLC to doing business under the name of another company that he owns, Rich Dad Co.
Source: digitaljournal.com
"Rich Dad, Poor Dad" Author Files for Bankruptcy for His Company
(NEW YORK) — Robert Kiyosaki, author of the book, Rich Dad, Poor Dad filed for corporate bankruptcy through one of his companies, Rich Global LLC. Kiyosaki first published Rich Dad, Poor Dad in the 1990s, eventually becoming a New York Times best-seller despite criticism of his personal finance tips, such as his emphasis on real estate investing. He went on to write a number of follow-up books such as Retire Young, Retire Rich, and Midas Touch, co-authored with real estate mogul and television personality Donald Trump. Rich Global LLC filed for Chapter 7 bankruptcy protection on Aug. 20 in a Wyoming bankruptcy court, the New York Post reported this week. Kiyosaki and his bankruptcy attorney did not immediately respond to requests for comment. The company had been weighed down by a lawsuit filed by Learning Annex, one of Kiyosaki’s earliest backers who had helped arrange his public speaking events earlier on, Forbes reported. Bill Zanker, the founder and president of Learning Annex, sued Kiyosaki after he allegedly failed to pay a percentage of profits from his speaking engagements. A district judge in New York awarded Learning Annex $23.7 million. “I took Kiyosaki’s brand and made it bigger,” Zanker told the New York Post. “The deal was I would get a percentage, and he reneged. We had a signed letter of intent. The Learning Annex is the greatest promoter. We put his Rich Dad brand on a stage. We truly prepared him for great fame and riches. But when it was time for him to pay up, he said ‘no.’ ” However, Kiyosaki isn’t taking after his poor dad’s title just yet. Though Rich Global LLC has filed for bankruptcy, he reportedly conducts business through a number of corporations, including Rich Dad Co. Mike Sullivan, CEO of Kiyosaki’s Rich Dad Co., told the Post, “The dealings we had with Learning Annex were with a company that hasn’t been in business for a number of years…I am not surprised Learning Annex is upset and angry, the money doesn’t exist in that company, and we can’t bring money out of the group. “Robert and [wife] Kim are not paying out of personal assets. We have a few million dollars in this company, but not 16 or 20. I can’t do anything about a $20 million judgment…We got hit for what we think is a completely outlandish figure,” he continued. Rich Global LLC’s liabilities are nearly $26 million with assets of $1.8 million, according to its bankruptcy filing. Its biggest creditor is the Learning Annex due to its $23.7 million legal claim. The meeting of creditors was held on Sept. 26 and the deadline for creditors to file claims is Jan. 2., according to the Executive Office for U.S. Trustees. Copyright 2012 ABC News Radio
Source: abcnewsradioonline.com
Help! I Need to File Bankruptcy But Already Did One a Few Years Ago
But Chapter 13 provides a number of other benefits distinct from the discharge of debts. For example, it stops a foreclosure and gives you years to catch up on your mortgage arrears. It also stops extremely aggressive collection of unpaid support payments, including the suspension of professional/occupational/driver’s licenses, again giving you years to bring it current. It may be able to significantly reduce what you pay for your vehicle through a “cram down.” For these and other reasons it can make a lot of sense to file a Chapter 13 case while knowing that you’ll not get a discharge of any of your debts. You may not even have any debts to discharge, but just need one or more of those other powerful benefits.
Source: mysmartblog.com
5 Reasons Not To File For Bankruptcy In Your 20s
Your 20s can be a time of great financial challenge: You’re not quite skilled enough to get the job of your dreams in the “real world,” yet you have real bills and financial responsibilities that demand a salary you can’t command. Worse yet, you may be contending with a mound of student loan debt, credit card bills, car payments and other income drains. While filing for bankruptcy may seem like an easy way to end the nightmare of debt in your 20s, it’s not a solution. In fact, it will very likely cause you more pain than relief in the long term.
Source: pmflegal.com
Former daycare owner may file for bankruptcy
Soon after the crash, the state indicted Lewars, accusing her of one count of a fraudulent scheme or plan to obtain fraudulent benefits over $10,000, and one count of theft by deception over $10,000.
Source: wave3.com
When You Should Not File Bankruptcy on Your Own
A simple Chapter 7 bankruptcy case could be filed by the debtor on their own if they understand the rules and regulations under the bankruptcy code. This is crucial in obtaining a discharge from debts successfully. A simple case may be a situation in which you have little or no assets, no priority debts or allegations of fraud against you by creditors. There are exemption laws, local rules and procedures you need to do extensive research on if you are considering filing on your own.
Source: allmandlaw.com
'Rich Dad, Poor Dad' Author Files For Bankruptcy
For you all still believing he isn’t broke, don’t be deceived. Robert Kiyosaki has been damn broke since over 5years. Would have given details but I am quite busy now and my thumb aches. Please check that his coauthor in Rich dad, poor dad. She owned about 35% stake or so in the whole business and was even believed she was the REAL BRAIN behind most of the theories. When she left Kiyosaki, it became obvious she was the brain box behind him because the 5 other books he realeased were a total disaster. None was a bestseller even the one he wrote with Donald trump. Now to cut long story short, check the ladies name and google both of them (together). More details and facts will come up. It pays to be enlightened. I can bet 95% of Youths on this forum have neither heard of Kiyosaki nor read his book before.
Source: nairaland.com
Thinking About Filing For Bankruptcy? Try These Tips!
Bankruptcy is a difficult time that always leads to lots of stress. By hiring a competent attorney, you can alleviate some of that stress. Do not let price be the only factor. What you need is a thoroughly competent lawyer, and this does not imply that you have to pay through the nose. Speak to those around you at work or social settings, who have dealt with this. Make the most of the BBB and consultations with attorneys to increase your knowledge and decision-making ability. If you want to know more about a specific lawyer, attend a court proceeding and see how the attorney handles herself.
Source: sibensiben.com
Author of Rich Dad, Poor Dad Files for Bankruptcy
Based on Zanker’s argument, we doubt that the name of the next Robert Kiyosaki book will be “Rich Dad, Honorable Dad.” It sounds like he learned a thing or two from the story-telling of Mitt Romney. If you agree to something in writing and then choose not to pay, you might have all the riches in the world, but your soul could be bankrupt. Maybe there are things more important than money.
Source: thewestsidegazette.com