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Todd Chrisley’s Wife, Chrisley & Company Delay Bankruptcy Battle: EXCLUSIVE

Posted: April 14th, 2015 in Chrisley & Company, Chrisley and Company, Julie Chrisley, Todd Chrisley by LALATE

Todd Chrisley Wife's Bankruptcy Battle with Chrisley & Company Delayed: EXCLUSIVE

LOS ANGELES (LALATE EXCLUSIVE) – Todd Chrisley’s wife Julie Chrisley, and Chrisley & Company, are among the consenting parties to a new deadline in the continuing bankruptcy case of Chrisley Asset Management. The Chrisley family has dealt with not one but two bankruptcy cases this year. Todd Chrisley filed for personal bankruptcy. That matter is now effectively resolved. But Todd Chrisley’s company Chrisley Asset Management also filed for corporate bankruptcy. The trustee in that case Robert Trauner therein sued Julie Chrisley and Chrisley & Company claiming alleged fraudulent transfer of assets. Julie’s answer to the complaint was due April 17. But today, the bankruptcy court issued a Consent Order for all parties including Julie and Chrisley & Company extending deadlines to June.

The bankruptcy troubles for the Chrisley family are not over. Todd Chrisley’s wife Julie Chrisley is being sued in the corporate bankruptcy case of Chrisley Asset Management by the trustee. Her answer to the allegations in his complaint was due April 17. But on April 14, US Bankruptcy Court Judge Mary Grace Diehl issued a Consent Order, sought by all parties including Julie.

Julie and Chrisley and Company, along with other defendants shall have a new time “to answer or otherwise respond to Trustee’s Complaint, currently running through and including Friday, April 17, 2015, shall be extended through and including eighteen (18) days after the termination date of the Tolling and Standstill Agreement (which termination is currently set for Monday, June 1, 2015), or Friday, June 19, 2015″.

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The Court notes consent by Todd Chrisley’s wife and all other parties. “Ordered that the Tolling and Standstill Agreement which Plaintiff Trustee has entered into with all the Defendants in this Adversary Proceeding, a copy of which is attached as Exhibit A to the Motion, shall be, and hereby is, approved and made an Order of this Court; and it is”. The complaint claims that Chrisley Asset Management allegedly committed fraudulent transfers to Julie Chrisley, Chrisley & Company and others. The trustee is seeking to recover those allegedly transferred assets.

And how did Todd originally make his money? His Georgia based Chrisley Asset Management company, according to Julie, would take Fannie Mae properties and make a commission on their refurbishing. Todd’s company would “upgrade and repair the [Fannie Mae] properties”, then “sell them”, and then Chrisley Asset Management “would be paid a commission” [by Fannie Mae].” That deal purportedly has since been cancelled by Fannie Mae. For more about Todd, click HERE.







Todd Chrisley: Chrisley and Company Dispute Grows in Bankruptcy: EXCLUSIVE

Posted: March 31st, 2015 in Chrisley and Company, Todd Chrisley by LALATE

Todd Chrisley: Chrisley and Company Dispute Grows in Bankruptcy: EXCLUSIVE

LOS ANGELES (LALATE EXCLUSIVE) – Who is Todd Chrisley, what does Todd Chrisley do for a living, how did Todd Chrisley make his money, and whatever happened to Todd Chrisley’s bankruptcy? Tonight, Chrisley and Company is back with three hours of programming, a six episode marathon, on E! In the coming weeks more episodes of Chrisley with a new season debut on USA Network. But in days from now, Chrisley’s wife Julie battles a deadline regarding a Chrisley and Company bankruptcy case.

Todd Chrisley and Chrisley and Company both filed for bankruptcy. But recently, Todd Chrisley’s personal bankruptcy ended. However, the Chrisley and Company corporate bankruptcy case is still pending. Among the parties being sued is Julie. And Julie’s deadline to answer the complaint is next month.

Todd Chrisley’s financial troubles prompted two bankruptcy cases: one for the family business Chrisley Asset Management, LLC and one for Todd Chrisley personally. The first bankruptcy case is still pending, LALATE can report. In it, the trustee for Chrisley Asset Management, LLC, Robert Trauner, is suing Julie Chrisley, Chrisley and Company, and several other defendants in an adversary bankruptcy proceeding filed on November 12, 2014, midway through season two of Chrisley Knows Best (USA Network). Chrisley Asset Management, LLC on April 22, 2013, midway during the first season of the reality show filed for bankruptcy.

Kyle Chrisley Mug Shot Photos 2013
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How much money is at issue in this corporate bankruptcy case? LALATE can report that attached to the complaint is a one page exhibit entitled “Recoverable Transfers to, or for the benefit of, Defendant Julie Chrisley – Exhibit “B”. In it, the trustee claims that Julie Chrisley received $726,302.44 dollars in 2012 from Chrisleys Asset Management that she allegedly was not entitled to. This sum of money is in addition to the assets/funds that the other trustee is going after Julie Chrisley for.

Tonight, E! purportedly replays the episode in which Todd imparts to his children about the need for them to work. But in the same scenes, Todd gives no indication to viewers what he does for a living. His Georgia based Chrisley Asset Management company, according to Julie’s court documents, would formerly take Fannie Mae properties and make a commission on their refurbishing. Todd’s company would “upgrade and repair the [Fannie Mae] properties”, then “sell them”, and then Chrisley Asset Management “would be paid a commission” [by Fannie Mae].” That deal purportedly has since been cancelled by Fannie Mae. For more about Todd, click HERE.






Todd Chrisley’s Wife, Chrisley and Company Ordered to Bankruptcy Mediation

Posted: February 24th, 2015 in Chrisley and Company, Todd Chrisley by LALATE

Todd Chrisley Wife, Chrisley & Company Ordered to Bankruptcy Mediation

LOS ANGELES (LALATE EXCLUSIVE) – Todd Chrisley’s wife and Chrisley and Company have been ordered to bankruptcy mediation today, LALATE can exclusively report. Tonight Chrisley and Company Department Store heads to E! as season one episodes rerun. But where is Chrisley and Company Department Store located, how did Todd Chrisley make his money, and what happened to Todd’s bankruptcy case? LALATE can exclusively report that just today a major update unfolded in Todd Chrisley’s corporate bankruptcy case.

Chrisley and Company Department Store was said to open at the end of Chrisley Knows Best Season 1. But it apparently never did. Rather, Chrisley and Company LLC has been ordered to mediation along with Julie Chrisley today. What is happening with Todd’s bankruptcy? As exclusively reported on LALATE in recent months, Todd Chrisley filed for personal bankruptcy. That trustee sued Julie for alleged fraudulent transfers; she denied the same. Also Todd’s company Chrisley Asset Management filed for corporate bankruptcy. And that (different) trustee sued Julie also for alleged fraudulent transfers. Among the defendants is also Chrisley and Company (c/o Julie Chirsley), and Le Reve Reality Group (also c/o Julie Chirsley).

In 2014, Todd repeatedly told news that his family is blessed and that the bankruptcy is old news and that he has moved on. Rather, that is not the case for Julie. In the Robert Trauner Trustee suit against Julie, her answer to his complaint is due March 17, 2015. No attorney has yet to enter an appearance on Julie’s behalf.

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But just today, the court entered a consent order. The parties including Julie agreed to mediate the corporate bankruptcy case right now. Judge Paul Bonapfel will act a neutral mediation. The mediation appears to be non binding, voluntary, and will be conducted soon. No deadline for the mediation is indicated in the order issued by the Court today, obtained exclusively by LALATE.

Robert Trauner, trustee for Chrisley Asset Management, claims that Todd made his money running CAM and rehabbing homes. CAM had a purported contract to do homes for Fannie Mae and then was compensated for each home sold. Chrisley made fortunes from the contract. But when a state court suit ensued between the CAM owners, Fannie Mae purportedly cancelled the lucrative contract. CAM then was allegedly unable to meet its financial obligations and filed for bankruptcy.

LALATE has called Chrisley Knows Best one of the best reality shows on television. Todd Chrisley serves as one of its producers. A new season debuts in the coming weeks on USA Networks, not E!. Rather E! will continue to carry re-runs in the coming weeks.

Todd Chrisley Wife Sued in Bankruptcy Court for Chrisley & Company Money

Posted: February 17th, 2015 in Chrisley and Company, Todd Chrisley by LALATE

Todd Chrisley Wife Sued in Bankruptcy Court for Alleged $726K Transfer make his money chrisley and company

LOS ANGELES (LALATE EXCLUSIVE) – What does Todd Chrisley do for a living, where is Chrisley and Company, how did Todd Chrisley make his money, and what is going on with Chrisley’s bankruptcy case? Recently a tabloid site reported that Chrisley family bankruptcy issues were about to be settled and concluded. Rather, the report is misleading. Todd Chrisley filed for personal bankruptcy. And his former company Chrisley Asset Management filed for corporate bankruptcy. Each case got their own trustee. And each trustee sued Julie Chrisley claiming alleged fraudulent transfer of assets to Julie. Julie and Todd disputed the same. Now Todd Chrisley’s personal bankruptcy trustee is considering settling his case. But that has nothing to do with Todd’s Chrisley Asset Management bankruptcy case. In fact, the proposed settlement from that personal bankruptcy case clearly states it does concern the corporate case. And now, LALATE can exclusively report, Julie Chrisley is just days away from responding to that corporate bankruptcy lawsuit against her.

Todd Chrisley’s Chrisley Knows Best tonight heads to E! The show – which LALATE has called one of the best reality shows on TV – returns to USA later this year. But Julie Chrisley has other issues to contend with. Among them are $726,302.44 being sought by Chrisley Asset Management’s trustee against her. The money allegedly came from Chrisleys and Company LLC accounts via transfers between January 1, 2012 and roughly April 2014. The trustee is seeking to recoup other moneys from other entities; but the above amount is just that at issue with Julie. Her response to the complaint is due in March.

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Roughly nine claims are being brought against Julie. Todd made his money rehabbing homes for Fannie Mae, under contract, with his company Chrisley Asset Management. But a state court suit between the owners of the company erupted. And the Fannie Mae contract was not renewed by Fannie Mae. The trustee claims “From and after some date currently unknown to Trustee, but, upon information and belief, well-known to Defendant Julie Chrisley, Defendant Braddock, and others, and which was no later than the date upon which Debtor was formally advised that Debtor’s contract with Fannie Mae would not be renewed—June 6, 2012—Debtor made the Avoidable/Recoverable Transfers described herein with actual intent to hinder, delay, or defraud Debtor’s then existing and future creditors as provided in Official Code of Georgia Annotated section 18-2-74(a)(1).” He adds “At the time Debtor made each of the Defendant Chrisley & Co.-Related Transfers, numerous creditors held claims against the Debtor… Each of the Defendant Chrisley & Co.-Related Transfers was made without Debtor receiving reasonably equivalent value in exchange for such transfer at a time when Debtor: (a) was insolvent, or became insolvent as a result of such transfer”, and other alleged reasons the trustee claims. So the trustee is seeking to void each alleged transfers to Juile.

Todd Chrisley Co Bankruptcy Case: Julie Chrisley Gets Sued Again – EXCLUSIVE

Posted: December 16th, 2014 in Chrisley and Company, Julie Chrisley, Todd Chrisley by LALATE

Todd Chrisley Co Bankruptcy: Julie Chrisley Gets Sued Again: EXCLUSIVE

LOS ANGELES (LALATE EXCLUSIVE) – Julie Chrisley, Todd Chrisley’s wife, is already being sued by Todd Chrisley’s bankruptcy trustee. Todd Chrisley’s personal bankruptcy case is pending still. And the suit by Todd’s personal bankruptcy trustee against Julie Chrisley is still pending. That case claims that Julie Chrisley improperly received assets to prevent collections by Todd Chrisley’s personal creditors. She disputes the allegations. Now Julie Chrisley has new legal problems, LALATE can exclusively report. The bankruptcy trustee for Chrisley Asset Management, LLC, Todd and Julie’s company, is now suing Julie, Chrisley and Company, and several other defendants in a new 164 page complaint filed just days ago, obtained exclusively by LALATE. The complaint is seeking to void nearly $726,302.44 dollars in 2012 that Julie Chrisley received. The trustee claims the transfer(s) was improper and done by Julie to prevent collections by CAM’s creditors. Julie has yet to respond to the complaint.

Julie Chrisley’s legal troubles are growing, Todd Chrisley’s bankruptcy case is still pending, and more suits have been filed since Chrisley Knows Best started season two. The latest round came just days ago. And they are far from over.

Todd Chrisley’s financial troubles prompted two bankruptcy cases: one for the family business Chrisley Asset Management, LLC and for Todd Chrisley personally. Now the trustee for Chrisley Asset Management, LLC , Robert Trauner, is suing Julie Chrisley, Chrisley and Company, and several other defendants in an adversary bankruptcy proceeding filed on November 12, 2014, midway through season two of Chrisley Knows Best (USA Network). Chrisley Asset Management, LLC on April 22, 2013, midway during the first season of the reality show filed for bankruptcy.

But the trustee of Chrisley Asset Management is seeking “to recover for the benefit of Debtor’s bankruptcy estate, certain transfers of interests of Debtor in property and/or the value of the property transferred … which were made by Debtor prior to the filing of Debtor’s Bankruptcy Case [on 4/22/13], to or for the benefit of one or more of the Defendants” including but not limited to Julie Chrisley.

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Robert Trauner, as Trustee for the Estate of Chrisley Asset Management, LLC, claims that Julie Chrisley improperly received assets on the eve of a bankruptcy filing by Chrisley Asset Management. Now that trustee is seeing to void those transfers to Julie, “to recover damages from Defendant Julie Chrisley”, and to “to impose one or more constructive trusts on transfers made to Defendant Julie Chrisley or for the benefit of Defendant Julie Chrisley and/or the proceeds of such transfers, and/or obligations incurred by Debtor, for the benefit of Debtor’s bankruptcy estate and to aid in the recovery and collection of the avoided transfers, their value and/or their proceeds”.

And there is a lot of money at stake. LALATE can report that attached to the complaint is a one page exhibit entitled “Recoverable Transfers to, or for the benefit of, Defendant Julie Chrisley – Exhibit “B”. In it, the trustee claims that Julie Chrisley received $726,302.44 dollars in 2012 from Chrisleys Asset Management that she allegedly was not entitled to. This sum of money is in addition to the assets/funds that the other trustee is going after Julie Chrisley for. The season final of Chrisley Knows Best airs tonight on USA. LALATE has praised the show is one of the most entertaining shows of the fall season.








































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