The company behind the ?Girls Gone Wild? videos filed bankruptcy to protect itself from a US$10.3-million debt claimed by Steve Wynn?s Wynn Las Vegas LLC.
Last year Wynn and his company won a slander suit against Joe Francis, the founder of the Girls franchise, which features college age women in reality-TV style shows focused on drinking, stripping and sex.
?The court finds that Francis made a knowing and intentional false and defamatory statement,? a Nevada judge ruled in April in awarding US$7.5-million to Wynn and Wynn Las Vegas.
The bankruptcy case doesn?t mention Francis or the lawsuit. It was signed by a company manager, Chris Dale, and listed its biggest debt as US$10.3-million to Wynn Las Vegas. The company said it disputes the validity of that debt and the second- biggest claim, US$5.8-million allegedly owed to Tamara Favazza.
Girls? bankruptcy attorney Robert Yaspan didn?t immediately return a call requesting comment on the filing.
The case is In re GGW Brands, LLC 13-15130, U.S. Bankruptcy Court, Central District of California (Los Angeles).
?Bloomberg.com
Source: http://business.financialpost.com/2013/02/28/girls-gone-wild-bankruptcy/
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