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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, Chirsley and Company Department Store Heads to E!

Posted: February 10th, 2015 in Chirsley and Company, Todd Chrisley by LALATE

Todd Chrisley, Chirsley and Company Department Store Heads to E!

LOS ANGELES (LALATE) – Who is Todd Chrisley, what happened to the Chirsley and Company Department Store, and how did Todd Chrisley make his money? Tonight the Chrisley-curiosity has a new home, but only temporarily. Fans have been asking if Chirsley Knows Best is moving from USA Networks to E! It’s not. Rather, in an unusual twist, season one is coming to E! this spring on Tuesday night. The change however is promoting confusion.

Todd Chrisley and his Chirsley and Company Department Store assurances are arising tonight on E! as the network roles out season one episode from USA Network. The two cablers are part of the NBC Universal family. Tonight in an unusual twist E! is airing the show again on the same night the show aired during season two on USA.

As previously reported exclusively on LALATE, there is no Chirsley and Company Department Store. During Todd Chrisley’s bankruptcy proceeding, he listed Chirsley and Company as having no asset value. Before the TV show debuted, for several years Todd wrote online that the Chirsley and Company Department Store would be coming to Atlanta, then to Beverly Hills, and elsewhere. But it never did. He also told viewers during season one that he was spending a significant amount of his own net worth on Chirsley and Company. But off camera, he was in bankruptcy and claimed that he had no household belongings.

According to Todd’s bankruptcy trustee, Todd Chrisley allegedly first made eight million dollars in 2004. Todd allegedly owned a company called Executive Asset Management, LLC which he sold that year. Then in 2008, he launched Chrisley Assessment Management. How much money did Todd make through Chrisley Assessment Management? The trustee claims “During CAM’s successful tenure, Debtor was withdrawing over $500,000.00 per month in income from the business. Michael and Julie Chrisley own or owned multimillion dollar homes in resorts in Florida and South Carolina as well as a large estate in Atlanta. Defendant also has a condominium in Los Angeles and leases a substantial residence in Gwinnett County, Georgia.”

Kyle Chrisley Mug Shot Photos 2013
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Todd made money from foreclosure business. His company 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.”

Eventually, the owners of Chrisley Assessment Management got involved in litigation. The Fannie Mae contract was cancelled. Todd then filed for personal bankruptcy. Chrisley Assessment Management filed for corporate bankruptcy. Since then Todd has told news that the bankruptcy matter is old news. Rather, it’s not. The CAM bankruptcy trustee is suing Julie, Todd’s bankruptcy trustee is suing Julie. This week, the second trustee revealed a proposed settlement for the second bankruptcy case only.

Todd Chrisley’s Wife Julie Chrisley Still Battles Bankruptcy Trustee: EXCLUSIVE

Posted: February 6th, 2015 in Julie Chrisley, Todd Chrisley by LALATE

Todd Chrisley: How Todd Made His Money, Net Worth Revealed in Docs: EXCLUSIVE

LOS ANGELES (LALATE EXCLUSIVE) – Todd Chrisley and Julie Chrisley were the subject of a report this month attempting to update readers about the Chrisley’s bankruptcy proceedings. But the report, in mentioning a settlement proposal, comes up short on the details. Todd Chrisley filed for personal bankruptcy, and his company Chrisley Asset Management also filed for bankruptcy. Both cases got different bankruptcy trustees. And both trustees, in their respective matters, filed lawsuits against Julie Chrisley claiming alleged fraudulent transfer. Julie disputed the same.

Todd Chrisley’s personal bankruptcy dispute could be coming to an end, but not the Chrisley Asset Management bankruptcy dispute, LALATE can exclusively report. In Todd’s personal bankruptcy case, Case Number Case No. 13-56132-MGD, the trustee had claimed that Todd illegally transferred his interest in a former condo to Julie Chrisley. The trustee claimed that Todd and Julie found a buyer of their Georgia condo which they had owned together. “When [Todd and Julie] found a buyer for the Gallery Condo, they planned to transfer the property out of the [Todd's] name, in order for [Julie] to use the sale proceeds for her sole benefit. [Todd's] interest in the Gallery Condo was transferred to … [Julie for] no consideration …. Instead [Julie] … used all of the sale proceeds to satisfy her separate individual tax debt. Just about four months later, [Todd] filed this bankruptcy case”. The trustee sued Julie seeking to recover Todd’s interest in the $586,300.00 condo as an allegedly illegal transfer by Todd to Julie to defraud a $23 million creditor. Julie disputed the allegations. Now that case has been presented with a settlement offer.

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But a recent report about the Chrisleys fails to mention that Julie Chrisley is being sued still by the second bankruptcy trustee. In fact, the settlement offer in the first case states in clear language that it does not stop the pending ligation against Julie in the second case. “The proposed settlement will allow [the first] Trustee [for Todd's personal bankruptcy case] to close this case without awaiting for the outcome of CAM’s bankruptcy case [Chrisleys Asset Management case] since Trustee [of the first case] is not administering any of CAM’s assets or any transfer related to CAM”. Julie has until February 12, 2015 to respond to the allegations in the second case.

How did Todd Chrisley Make his Money: Julie Chrisley Sued Twice – EXCLUSIVE

Posted: January 29th, 2015 in Julie Chrisley, Todd Chrisley by LALATE

How did Todd Chrisley Make his Money: Julie Chrisley Sued Twice - EXCLUSIVE

LOS ANGELES (LALATE EXCLUSIVE) – How did Todd Chrisley make his money, who is Todd Chrisley, and what happened to Chrisley and Company? Chrisley Knows Best reruns hit television today. But within days, Julie Chrisley asked two different courts extensions. Julie is being sued by not one but two bankruptcy trustees stemming from Todd Chrisley’s, and his company’s, money problems. Recently Todd Chrisley told news that these bankruptcy maters are old news and that he is blessed. But the cases are still very active and no bankruptcy court nor trustee has blessed Todd or Chrisley. Rather two trustees are suing Julie claiming alleged fraudulent transfer of assets.. And now Julie is asking for not one but two extensions from these cases.

Todd Chrisley tells fans on his reality show a lot about his purported opulent spending. But behind the scenes, Todd is in personal bankruptcy still. His company is in corporate bankruptcy. And his wife is being sued by trustees in both actions. Todd’s personal bankruptcy case has a trustee. And Todd’s corporate bankruptcy case has a different trustee. But now, both of the trustees are suing Julie Chrisley seeking hundreds of thousands of dollars.

On November 12, 2014, Robert Trauner, the trustee in the corporate bankruptcy case, filed suit against Julie Chrisley and others for alleged fraudulent transfer of asset(s), seeking those assets to be returned. Now the court in that action just days ago extended Julie’s time respond to the action until February 12, 2015, LALATE can report. In that case, she is representing herself according to the court docket. Several weeks ago, Jason Pettie, Todd Chrisley’s personal bankruptcy trustee, filed a motion for limited summary judgment against Julie. Julie has now sought an extension of time in that action to March 6, 2015.

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In Todd Chrisley’s personal bankruptcy case, the trustee claims that RES-GA Buckhead LLC allegedly got a judgment against Todd Chrisley on 5/23/12 of $23 million. The trustee claims Todd has not paid that $23 million judgment. The trustee further claims that, as that matter was pending, on 4/23/12, Todd Chrisley allegedly transferred his interest in a particular asset to Julie Chrisley. In Case Number Case No. 13-56132-MGD the trustee claims that Todd allegedly improperly transferred his interest in a condo to Julie Chrisley. Simply said, the trustee is claiming that Todd allegedly transferred his interest in a half million dollar asset to his wife, for no money, and did so just weeks before filing for bankruptcy and after being hit with a $23 million judgment. The trustee is seeking to recover Todd’s interest in the $586,300.00 condo as an allegedly illegal transfer by Todd to Julie to defraud a $23 million creditor.

Todd’s trustee claims that Todd in the past was “financially successful primarily as a result of the performance of two companies … Both companies 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. The companies were full REO firms meaning that they dealt with real estate owned by lenders.”




























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