Former Real Housewives of New Jersey stars Chris and Jacqueline Laurita’s finances continue to tumble as they battle an $8 million lawsuit.
According to Radar Online, the couple’s money situation is in dire straits because of their legal woes, which began from their failed clothing line, Signature Apparel.
Also named in the lawsuit is Chris’ brother, Joseph Laurita and his wife Adeline. It is claimed that they all drained the company’s finances and improperly used the funds to support their lavish lifestyles spending $7,804,227.
In 2009 their now defunct company, Signature Apparel, filed for bankruptcy and the Laurita’s are all accused of knowing the company was going under while taking out money for personal use in an attempt to defraud their creditors. As a result, the Trustee of the bankruptcy case sued for the $7.8 million to pay back their creditors. The Lauritas of course deny any wrongdoing.
On the 10th June, Jacqueline and her husband filed documents pleading with the court, explaining that they want to settle the case but the Trustee refuses to do so.
“In essence, the Responsible Person seeks approval for a settlement with the ROC Defendants on the basis that litigation is inherently uncertain and sometimes wasteful. Given the facts, and the current endorsement by the Responsible Person of a potential settlement with the ROC defendants, it is incomprehensible that the Responsible Person has refused to engage in any good faith settlement negotiations with the Laurita defendants,” the paperwork reads.
Struggling to recover from the financial reverses caused by the bankruptcy filing and ongoing litigation, the Lauritas argue their resources continue to dwindle. They are asking the court to order the Trustee to have settlement talks with them to resolve the matter and salvage their monetary future.
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Source: Radar Online
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