If you recall, Teresa and husband Joe Giudice filed for bankruptcy to the tune of $11 million in debt. Back in July of this year, a judge ordered the Giudices to auction off most of their home items as a means to recoup some money for their debtors. Those items included a grand piano, LCD TV, stainless steel gas range, bedroom furniture, and even her kids’ bedroom sets and toys.
The Giudices’ attorney was however able to get the public auction canceled in October. RadarOnline is now reporting the private sale is underway.
Even more interesting, the Giudices have put in their own minimum bid of $54,405 in hopes of retaining their valuables. Meaning anyone who wishes to own Teresa’s home items would have to pay at least $54,406. So basically Teresa and Joe get to keep their items if the judge approves the price and no other parties outbid them.
Teresa’s attorney James Kridel tells RadarOnline that anyone who puts in an offer would be doing it for the wrong reasons. “In my opinion, it would have to be out of spite or out of ignorance,” he said. “Because whereas my mattress might be worth the replacement cost to me, it’s probably worth almost nothing to someone else, so the real value of it would be ridiculous.”
Mounting legal troubles continue to remain an issue for Teresa and Joe. As we reported last month, the couple is required to stand trial on July 14 & 15, 2011 for charges relating to bankruptcy fraud. They are accused of concealing assets and hiding income in their bankruptcy filing.
Days after we reported the news of Teresa Giudice and hubby Joe Giudice having to stand trial for bankruptcy fraud in July, 2011, their attorney is now speaking out on their behalf.
James Kridel, attorney for the Real Housewives of New Jersey stars, will have to prove to the bankruptcy court come 2011 that his clients’ bankruptcy filing is indeed legit and should not be overturned. Roberta DeAngelis, the attorney in the U.S. Trustees Office who evaluated the Giudices’ filing, has recommended that the court not grant their Chapter 7 petition due to fraud. DeAngelis accused the Giudices of concealing assets, hiding income, providing false information to the IRS, etc.
Kridel’s strategy seems to be to avoid the trial all together. “I am going to be sending a letter to the US Trustees Office because I would like to resolve with them their issue rather than have to try it,” Kridel told RadarOnline.
Kridel however claims he isn’t doing this out of fear of losing the case or desperation. “I’m not doing it out of desperation; I’m doing it in their [debtors and US Trustees] best interest. That’s the next step. But ultimately the ball is in their court.”
Kridel also adds that he will argue that his clients “have been punished enough.” Kridel stated, “Instead of just looking at it as ‘Joe Giudice,’ it is a family and to deny a discharge in this case would destroy this family. Some of the family members are clearly not responsible for anything that occurred here.”
Good luck with that Kridel. In other NJ news, RadarOnline is also reporting that Caroline Manzo’s sons – Albie and Chris Manzo – have officially moved out of their mama bear’s cave and into their own bachelor pad!
“The guys decided to get their own place because they are young and good looking and famous,” a source close to the family told Radar. “They get a lot of attention from women. They are growing up and they need their privacy.”
The source adds that Caroline is however having a hard time adjusting to her new empty nest. “Their mom is really sad because she is really close to her sons,” added the insider.
TELL US – WHAT ARE YOUR THOUGHTS ON THE GIUDICES’ ATTORNEY’S COMMENTS AND THE MANZO BOYS MOVING OUT?
Not that you needed any more reasons for your disgust dislike of Teresa Giudice, but we’re about to give you 60,000 more.
The NYPost is reporting today that the Real Housewives of New Jersey star celebrated being debt free by going on a $60,000 spending spree, after filing for bankruptcy to the tune of $11 million in debt back in October, 2009.
The shocker hasn’t even come yet. According to the Post, Teresa and hubby Joe Giudice blew $8,800 for curtains and nearly $45,000 on wall hangings, mirrors, frames, tables, urns and chairs, just days after filing bankruptcy. Just days folks…. Unbelievable.
This little tidbit came out yesterday as the morons Giudices had their attorney James Kridel file a court document with receipts that detailed the irresponsible spending, as a way to show the court that some of their auction items were purchased after their filing. The Post reports even Kridel seemed at a loss for words when trying to explain the asinine spending to Judge Morris Stern, saying he knew the documents presented “a dilemma” and that the Judge might view it as “conspicuous consumption.” Ya think?
“These were not Ikea-purchased furniture items,” Judge Stern said. “These were from high-end design stores.”
As we reported yesterday, the judge refused to stop the public auction of the Giudices home items, but postponed it to Oct. 3. Bankruptcy trustee John Sywilok, who has accused the Giudices of concealing assets, was also present during the hearing and stated that right before their bankruptcy filing, the Giudices purchased $21,000 worth of furniture and paid off a total of $11,000 of that amount just two days before filing.
And there’s more folks! While Teresa refused to comment on her irresponsible wasteful disgusting spending spree, hubby Joe, who is said to have been sweating profusely, got a little testy at the reporters. “None of your business! Back off before I get pissed!” stated an angry Joe outside of the courtroom.
And somewhere in America, an average couple is holding multiple jobs to keep a roof over their heads, feed their kids, and pay off their debt, while the Giudices get to remain debt free and live in their $5 mil mansion! Surely this has to be criminal…
UPDATE: Teresa’s lawyer James Kridel tries to explain the unbelievable spending spree she went on just days after filing bankruptcy.“That was the money she earned as an advance for her book Skinny Italian,” her attorney tells PEOPLE. “Since she earned it after the filing, she was absolutely free to spend it.”
It doesn’t end there. Kridel then tries to explain why Teresa needed to buy $60,000 worth of furniture while also acknowledging just how incredibly awful and disgusting this makes his client look. “She needed to re-buy furniture because she didn’t have any furniture in the house,” says Kridel. “It’s a big house and she wanted furniture consistent with her style on the show. There is nothing wrong with doing that, except that it doesn’t look good for her to be doing it.” No Kridel, it doesn’t, not by a long shot.
Must say it’s quite interesting that Teresa managed to receive her book advance just a few days after filing bankruptcy.
TELL US – WHAT ARE YOUR THOUGHTS ON THIS LATEST DEVELOPMENT? ARE YOU OUTRAGED?