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Old 03-01-2013, 09:45 PM   #1
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Default Girls Gone Bankrupt

http://abcnews.go.com/blogs/business...wild-bankrupt/

Girls Gone Wild, founded by Joe Francis, filed for Chapter 11 bankruptcy protection for the soft-core porn business, GGW Brands LLC, amid a legal battle with casino mogul Steve Wynn.
The bankruptcy petition was filed on Wednesday in California, a move that will protect assets against a long-standing lawsuit by Wynn, reported the Wall Street Journal.
“Yesterday several of the U.S. operating entities for Girls Gone Wild joined the ranks of companies like American Airlines and General Motors having sought reorganization under Chapter 11 of the United States Bankruptcy code,” according to a statement from GGW. “Girls Gone Wild remains strong as a company and strong financially. The only reason Girls Gone Wild has elected to file for this reorganization is to re-structure its frivolous and burdensome legal affairs. This Chapter 11 filing will not affect any of Girls Gone Wild’s domestic or international operations. Just like American Airlines and General Motors, it will be business as usual for Girls Gone Wild.”
Among the four largest creditors that were listed, the largest was $10.3 million in disputed debt with Wynn Las Vegas. The dispute stems from a $2 million gambling debt Francis incurred during a trip to the resort in Feb. 2007, according to court papers.
Last year, a judgment of $7.5 million was given to the hotel for defamation “stemming from Francis’s public attack falsely accusing Wynn of deceiving customers,” according to the lawsuit filed by the resort. In September, a jury awarded Wynn another $20 million for punitive damages for slander.
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Old 03-01-2013, 11:33 PM   #2
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Default Re: Girls Gone Bankrupt

I don't understand how pay for porn companies stay in business anymore. approximately 97.84% of the internet is made up of free porn.
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Old 03-02-2013, 01:37 AM   #3
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Default Re: Girls Gone Bankrupt

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I don't understand how pay for porn companies stay in business anymore. approximately 97.84% of the internet is made up of free porn.


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Old 03-02-2013, 02:51 PM   #5
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Old 03-03-2013, 04:46 PM   #6
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Old 03-05-2013, 06:35 AM   #7
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Default Re: Girls Gone Bankrupt

To steal a joke from Stephen Colbert, maybe those girls should've "Gone Business School"
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