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Monday, September 13, 2010

Teresa's Book Money May Stop Her Chapter 7 Bankruptcy

From Crushable.com


By: Drew Grant
Some juicy bit of gossip: While we found out last week that Real Housewives of New Jersey star Teresa Giudice and her husband Joe may have hidden some assets in order to file for Chapter 7 bankruptcy –which unlike Chapter 11, does not require you to pay back your debts — the news hot off the wire is that the crux of the investigation has landed on whether or not Teresa was paid an advance by Hyperion books for her Skinny Italian cookbook before or after she filed.

Though the couple didn’t claim any of the $250k advance when they filed for bankruptcy in October (their total income was valued at $2,261,150, and they owed $8,709,831.34) Teresa later admitted in court that the money was given to her by the publishing house around the time they took their hats in hand and went to the poor house, but for some reason, their lawyers haven’t gotten around to counting that amount in the duo’s assets.

Now sources tell us that Hyperion employees may be subpoenaed to testify in the case. That’s what you get for agreeing to publish a cookbook written by a woman whose closest brush with food was when she flipped over a table, we guess.

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