bankruptcy Archives - Mike South

Paxum tries to help those hurt by Wirecard

XXX Insider — Mon, 29 Jun 2020 21:30:30 +0000

Paxum Takes Unprecedented Action to Return Clients Frozen Wirecard Card Funds Itself On Friday, June 26th, 2020 Wirecard Card Solutions Limited regulatory activity was suspended by the Financial Conduct Authority (FCA). This action unfortunately resulted in the immediate forced suspension of Paxum Branded Prepaid Mastercards and of any funds already loaded to the card. In […]

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Bad day: Avenatti hit with $4.85M personal judgment, evicted from offices

xxxReporter — Tue, 23 Oct 2018 04:55:14 +0000

Creepy porn lawyer and carnival barker Michael Avenatti had a really a bad day on Monday. The attorney for aging porn star Stormy Daniels suffered two big losses, including one in which a California court ordered him to pay $4.85 million to a lawyer who used to work for Avenatti’s former (now bankrupt) firm, Eagan Avenatti. Shortly […]

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Lawyer Asks Judge to Seize Stormy Daniels’ Crowdfunding Cash in Avenatti Firm Bankruptcy

Sam Langhorne — Thu, 14 Jun 2018 20:57:27 +0000

An Orange County attorney has asked a federal bankruptcy judge to seize much of the $577,000 crowdfunding cash donated to aging porn star Stormy Daniels to pay legal bills in her legal cases against President Trump and his personal attorney Michael Cohen. Jason Frank, is trying to collect on a $10-million judgment he won last month […]

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Meet the law firms STIFFED in the Penthouse bankruptcy

PornReporter — Wed, 13 Jun 2018 20:42:11 +0000

When Penthouse Global Media, Inc. and fourteen of its subsidiaries filed for bankruptcy protection in the United States Bankruptcy Court for the Central District of California on January 11, 2018, the flailing giant left several big law firms on the hook for more than a half-million dollars in unpaid legal fees. Stiffed At least eight legal […]

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Does Bat Boy plan to purchase Penthouse? — EXCLUSIVE!

Voice For Reason — Wed, 23 May 2018 23:40:34 +0000

We got an interesting email the other day. I attempted to reach out to Kelly Holland, the current CEO of Penthouse, via morse code for a comment but didn’t have any luck. When Bob Guccione, the founder of Penthouse died, creditors seized most of his assets. In 1982, his net worth was estimated at around […]

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Let’s Talk About The Penthouse Bankruptcy. How much do you think Penthouse will sell for this time?

Kelli — Wed, 23 May 2018 22:01:06 +0000

This Penthouse liquidation has shocked a lot of people in the industry, but for those who have been paying attention, we knew it was only a matter of time. According to an article on XBIZ, Dream Media now holds the ExWorks loans and claims Penthouse owes it more than $10 million. From my understanding, this […]

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It’s over for Kelly Holland. Penthouse to be liquidated by the courts!

XXX Insider — Tue, 22 May 2018 22:45:16 +0000

As we were working on our exclusive Penthouse story, news broke about that the Penthouse bankruptcy didn’t go well and as of last week the trustee has told the judge it’s done. Penthouse originally filed for Chapter 11 back in January. After a few months of going through the books, the trustee gave up and said […]

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Is there a secret Bob Guccione locker of goodies that nobody knew about? — Reader Email

XXX Insider — Tue, 22 May 2018 22:17:44 +0000

We got an interesting email the other day. I attempted to reach out to Kelly Holland the current CEO of Penthouse for a comment but didn’t have any luck. When Bob Guccione, the founder of Penthouse died, creditors seized most of his assets. In 1982 his net worth was estimated to be around $400 million. […]

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Bankrupt toy-store chain Toys ‘R’ Us to sell off Sex-Toys-R-Us, KinkyToysRUs domains

PornReporter — Tue, 15 May 2018 18:40:20 +0000

In June, Toys ‘R’ Us is putting its famous mascot, Geoffrey the Giraffe, on the auction block. Also up for sale: sex-toys-r-us.com. The adult-oriented domain name is one of hundreds of website addresses that the bankrupt toy-store chain is looking to find a buyer for as it winds down its business and shutters 735 U.S. […]

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