Chris Laurita’s company Signature Apparel Group filed for bankruptcy in 2009, despite having a record income of $250 million during the years of 2005-2009. But RealityTea is giving an update on the Laurita’s case, and is revealing why it has been delayed.
According to the original complaint, Chris and his brother Joseph were accused of “draining the company of all its funds and assets in order to support their familiesâ€™ increasingly opulent lifestyle of private jets, limousines, extravagant parties, premium automobiles, designer clothing, ostentatious home furnishings and lavish vacations,â€ the complaint filed November 2, 2010 alleged. â€œSignatureâ€™s assets were misused to make outright and unjustified payments to Laurita family members, and to fund the operations of the Laurita brothersâ€™ other companies and business ventures.â€
The Laurita brothers/families allegedly spent the money on:
- Nearly $2 million in credit card payments for the Laurita Family, including payments to more than 40 bank accounts
- At least $331,637 for payments on no less than eleven leased cars, including a Bentley and a Maserati
- At least $284,793 in airline travel expenses for the Laurita Family
- At least $145,894 for private airplane rentals for the Laurita Family
- At least $7,280 for travel agent expenses for the Laurita Family
- At least $755,184 to defendant Christopher Laurita for undocumented or insufficiently documented reasons
- At least $784,160 of disbursements directed by the Laurita Director Defendants (Chris and Joseph) to unknown recipients, without any documentation
Chris has reportedly denied all of the accusations regarding bankruptcy fraud, and a hearing was scheduled for June 17th, where nothing was accomplished except for the filing of new documents.
- Motion to Approve Compromise /Responsible Person’s Motion Pursuant To Bankruptcy Code Section 105 And Rule 9019 Of The Federal Rules Of Bankruptcy Procedure For Entry Of An Order Authorizing And Approving Settlement Agreement And Releases With ROC Defendants filed by Michael S. Fox on behalf of Anthony Labrosciano, Responsible Person for Signature Apparel Group LLC with hearing to be held on 6/17/2014 at 10:00 AM at Courtroom 523 (REG) Responses due by 6/10/2014,.
- Objection to Motion for an Order Authorizing and Approving the Settlement Agreement and Releases with the ROC Defendants (related document(s)114) filed by Andrew T Hambelton on behalf of Iconix Brand Group, Inc., Studio IP Holdings LLC. (Hambelton, Andrew)
- Letter to the Hon. Robert E. Grossman from Aurora Cassirer, Esq. filed by Lee William Stremba on behalf of Adeline Laurita, Christopher Laurita, Jacqueline Laurita, Joseph Laurita. (Stremba, Lee)
- Reply to Motion /Responsible Person’s Reply To Responses To Motion Pursuant To Bankruptcy Code Section 105 And Rule 9019 Of The Federal Rules Of Bankruptcy Procedure For Entry Of An Order Authorizing And Approving Settlement Agreement And Releases With Roc Defendants (related document(s) 114, 117) filed by Michael S. Fox on behalf of Anthony Labrosciano, Responsible Person for Signature Apparel Group LLC. (Fox, Michael)
The Lauritas will be back in court on July 7th, according to the schedule of events, “Notice of Proposed Order and Presentment filed by Jonathan Koevary on behalf of Anthony Labrosciano, the Responsible Person for Signature Apparel Group LLC. with presentment to be held on 7/7/2014 at 12:00 PM at Courtroom 523 (REG) Objections due by 6/30/2014.”
Photo Credit: Bravo