5 Simple Techniques For Chapter 13 Bankruptcy Attorney Plantation FL

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5 million in yearly profits. Lemonis struck a manage the family to take a position $800,000 for a 32% stake within the business, even so the shareholder arrangement, according to the criticism, gave Lemonis what amounted to complete Manage around the corporate’s funds. The money to the financial investment was funded via a line of credit history at five% curiosity with a firm linked to Lemonis and only $two hundred,000 was imagined to go toward renovations and rebranding, but he put in $2 million, or 10 moments far more, the lawsuit statements. When Goureau and Menkin approached Lemonis concerning the skyrocketing renovation fees, Lemonis explained if they would like to back again out of your offer, they might pay out him again to the renovations, which Get More Info they might not manage. All through the decades, Lemonis allegedly saddled the corporate with additional personal debt, experienced the organization buy inventory and promote it at a loss, and acquire other companies it couldn't manage, the criticism states.

Many people believe that Florida is the easiest state from great site the nation in which to declare bankruptcy. Although that used to be accurate, it truly is now not the case. Florida has tightened The principles. But, a skilled Orlando chapter seven bankruptcy lawyer

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