Nineteen years after winning a jaw-dropping $2.5 billion divorce settlement, “catwoman” socialite Jocelyn Wildenstein has filed for Chapter 11 bankruptcy protection in federal court, saying has no checking or savings accounts, has not invested in any stocks or bonds, and set up no retirement or pensions funds. Her only source of income? The $900 check she gets from Social Security each month. It’s a far cry from the wild spending reported in a 1998 interview with Vanity Fair in which she recounted dropping “$350,000 on a Chanel dress, building a $3million mansion for her daughter on the family’s Kenyan reserve Ol Jogi for her 17th birthday and her many plastic surgeries. Filing a petition for Chapter 7 bankruptcy is the first and most time-consuming step of the bankruptcy process. During this time, you must list all your debts, both dischargeable and non-dischargeable, and whether you plan on reaffirming them. It is imperative that you are truthful and accurate with your figures, as false information can result in dismissal of your petition. Learn more about chapter 7 bankruptcy attorney, you can click here.
A tour of her home at the time, revealed that there was a glass case above Jocelyn’s bath to hold May Moon, her pet monkey. The pool room meanwhile had tanks filled with sand sharks, spotted eels, and neon tetras.
Times have certainly changed.
via Daily Mail:
Wildenstein’s lists 12 creditors with unsecured claims against her, including: the contractors who did work on her Manhattan apartments ($175,000); the owner of a Beverly Hills bungalow she rented back in 2014 ($165,000); a Manhattan furniture store ($80,000) American Express ($70,000); her architect ($25,000); a real estate agency ($12,000); and a storage company ($8,000).
There are four law firms who in total are owed over $273,000 as well as $30,431.00 that the socialite is paying to the New York State Department of Labor for what she describes as ‘law obligations.’
The list of creditors whose claims have been secured by property is shorter, which just four comapnies listed.
The values are far higher however, with Wildenstein owing $179,000 to the Board of Managers at Trump World Tower Condominium and $4.6 million to Castellan Capital, which is by far the highest debt incurred by the socialite.
Those are both secured by her $11.75 million apartments.
Wildenstein also owes $38,000 to Chase Auto Finance, which is secured by her 2006 Bentley, and $700,000 to a Manhattan storage company, which is secured by her furniture.
That last debt is another red flag, as she previously claims her furniture to be worth only $100,000, which would not be enough to cover that debt, she’d have to find details at Debt Consolidation USA to find another solution that would get her out of debt.
Her total personal property is valued at $16,386,100 and largely comprised of her apartment and the $4.5 million she has yet to receive from her divorce, despite her ex Alec having passed away in 2008.
The good news is that this amount exceeds the $6,380,080 she claims to owe her 16 creditors.
Poor dear. Adjusting to life as a pauper will be HELL.
(Photo: Pacific Coast News)