Many readers in Kentucky may have heard about the legal proceedings and fraud case facing a family who were popular figures on the show The Real Housewives of New Jersey. Joe and Teresa Guidice seemed to have everything going for them – looks, money and celebrity. However, both were convicted of fraud when it was discovered that they had hidden assets when they disclosed their finances duringpersonal bankruptcy proceedings.
This week, the judge involved in their bankruptcy case ordered for it to be reopened. Teresa Guidice just finished a year in prison for the fraud, and Joe is now serving his time. The judge ascertained that there are two remaining creditors who have not been satisfied, which was the impetus behind reopening the case.
The Guidice's attorney tried to block the action, as he argued that one of the remaining claims is in dispute, and they are in negotiations with the other. One concern the couple have is that they may be required to share any potential award from the legal malpractice case that is currently pending against their former lawyer, who they contend left out assets and income and landed them in trouble in the first place. They do not believe any winnings should be considered part of their estate, but the attorney representing the Guidice's creditors believes that it should because the malpractice claim came before the initial bankruptcy filing.
Each personal bankruptcy situation that one may face will undoubtedly face unique situations, as the circumstances can vary wildly from case to case. Regardless of the circumstances one may be facing, it could be beneficial to speak with a Kentucky attorney who focuses on bankruptcy law. An attorney will be able to properly evaluate a client's unique financial situation, and discuss the different kinds of bankruptcy and debt relief that are available.
Source: nj.com, "Judge rules RHONJ star Teresa Giudice's bankruptcy case must be reopened", Vicki Hyman, May 24, 2016