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

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″.

Kyle Chrisley Mug Shot Photos 2013
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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.

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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 Chrisley & Company, Julie Battles Bankruptcy Deadline: EXCLUSIVE

Posted: March 24th, 2015 in Chrisley & Company,Todd Chrisley by LALATE

Todd Chrisley's Chrisley & Company, Julie Battles Bankruptcy Deadline: EXCLUSIVE

LOS ANGELES (LALATE EXCLUSIVE) – Todd Chrisley and Chrisley Knows Best returns tonight on E! But how did Todd Chrisleys make his money, what happened to Chrisley and Company and Chrisley Asset Management, and are the Chrisley bankruptcy cases resolved? Until this month, the Chrisleys battled two bankruptcy cases. The first was Todd’s personal bankruptcy case. That one is now resolved and wrapping up. The second one is the corporate bankruptcy case. That is still pending with a new deadline, LALATE can report.

Todd Chrisley made his money with Chrisley Asset Management, LLC. The company would under contract with Fannie Mae take distressed homes, refresh them, and then resell them. The company would get compensated per sale. The business was incredibly lucrative until a state court suit between the owners lost the Fannie Mae contract. After Todd filed for personal bankruptcy, so did Chrisley Asset Management, LLC. That case is active. The defendants include Julie Chrisley, Todd’s wife. Chrisley Assessment Management allegedly “managed real estate assets and properties for lenders but primarily for Fannie Mae. This management included taking possession of properties after foreclosure and, through realtors, rehabilitating the properties and selling them.”

Kyle Chrisley Mug Shot Photos 2013
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The trustee Robert Trauner claims alleged fraudulent transfers to Julie we done to defraud creditors. Chrisley and Company, LLC is another defendant in the action. But as of the moment Julie still is not represented by counsel formally in the case. Her deadline to file her answer to the action is April 17, LALATE can report. But one of the other defendants, who is represented by attorneys, just filed a motion to dismiss. That matter is pending. A new season of Chrisley and Company debuts later this year on USA Networks. For continued coverage click HERE.

Todd Chrisley Fashion Police: Fans Know Chrisley is Best Replacement, EXCLUSIVE

Posted: March 1st, 2015 in Fashion Police,Todd Chrisley by LALATE

Todd Chrisley Fashion Police: Fans Know Chrisley as Best Replacement

LOS ANGELES (LALATE EXCLUSIVE) – Is Todd Chrisley a Fashion Police frontrunner to replace the exiting Kelly Osbourne? Todd Chrisley fans certainly believe so. On Saturday night, “Todd Chrisley 4 Fashion Police” dominated social media as Chrisley Knows Best Fans sent a sea of tweets to E! executives urging for the patriarch of perfection to join the police of precision.

But Todd Chrisley seems the frontrunner for the Fashion Police job, LALATE can report. A new report surfaced this weekend claiming that Khloe Kardashian and NeNe Leakes are being considered for the gig. LALATE can report that it is unlikely that Leakes would take the job after she was passed over for the lead, given to Kathy Griffin. And Khloe Kardashian seems far too tame for the show after a lackluster role during the Oscars telecast.

Chrisley on the other hand has done an exceptional job for E! in recent weeks giving his fashion reviews of the Oscars and of the Grammys. Before that, Todd delivered incredible appearances on the Steve Harvey Show in fall 2014. And as fans have watched, Chrisley’s on-air time with E! has expanded dramatically in recent months. In addition to print roles, he has had exceptional on-air appearances with the show’s news segments. Tuesday nights on E! have parlayed, in turn, to a Chrisley Knows Best night of reruns. While CKB usually airs on USA Networks on Tuesday night, parent NBC Universal has moved the show’s reruns to E! on Thursday night. And the ratings have been stellar.

So will Todd Chrisley be joining the Fashion Police? If he does, Madonna better be ready. Despite what the Material Girl wore at the Grammys, as Todd would say, it’s “Class not A–“.

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.








































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