Jacqueline and Chris Laurita have been accused of siphoning off millions of dollars from Chris’ former company, Signature Apparel. The couple reached an agreement for the $8 million bankruptcy lawsuit, and according to new court documents, an extension has been filed to determine how the funds from the settlement will be distributed and the case could possibly go to trial.
According to the court documents, obtained by RadarOnline, the trustee appointed to oversee the case, â€œseeks a further extension of his timeâ€¦ in order to better understand what the potential distribution â€˜potâ€™ will be before expending more estate resources in determining claims.â€
â€œThe significant litigations which are expected to fund distributions is scheduled for summary judgment, and if not granted in full, trial in November 2014,â€ the documents reveal.
In court papers filed on September 24 Chris and Jacqueline reached an agreement â€œto pay the total gross sum of One Million Dollars ($1,000,000.00)â€ to a trustee. The couple will have to immediately fork over $100,000 if the judge approves the agreement. The Lauritas will then be responsible for periodic payments of $112,500 through September 2016.
If the agreement gets approved by the judge, the Lauritasâ€™ latest filing states they admit no wrongdoing in the case. If a judge does not agree, the case will go to trial later this month to determine how the money will be distributed to creditors.
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