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Re: Kitchen Cousins File for Bankruptcy
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There was definitely no corporate structure/LLC when they performed the improvements on this particular Tenafly home though. Whatever... we'll see how it all pans out.

Posted on: 2015/9/8 21:50
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Re: Kitchen Cousins File for Bankruptcy
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Quote:

radryan03 wrote:
Such conjecture...

Who the hell knows how their personal assets are structured... you realize there are plenty of ways to protect personal wealth? A trust for example - done correctly - are completely independent of personal liability. There is a good chance that they have almost nothing of any real value in their name...


I agree their personal assets may be protected if their company is a corporate structure or an LLC. Then they can declare the company bankrupt then the other party is left suing a company with no assets.

Posted on: 2015/9/8 21:27
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Re: Kitchen Cousins File for Bankruptcy
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radryan03 wrote:
Such conjecture...

Who the hell knows how their personal assets are structured... you realize there are plenty of ways to protect personal wealth? A trust for example - done correctly - are completely independent of personal liability. There is a good chance that they have almost nothing of any real value in their name...


Quote:

alexis007 wrote:
Now this is so dumb of Colaneri right now to be tweeting that he is showing his home (a multi-million dollar asset) in a magazine...

"The Cousins ?@CousinsTV 37m37 minutes ago
Peek inside @ColaneriJohn's biggest project - his own home! Full house tour in @HGTVMag's Oct issue, on stands NOW'

He really needs to smarten up.



I hear ya...maybe yes; maybe no, but def still in their best interest to stay way under the radar now. We shall see...only time will tell what will ultimately happen to them. I highly doubt that they will be given any amnesty by the courts...this is just my opinion though.

Posted on: 2015/9/8 20:55
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Re: Kitchen Cousins File for Bankruptcy
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Such conjecture...

Who the hell knows how their personal assets are structured... you realize there are plenty of ways to protect personal wealth? A trust for example - done correctly - are completely independent of personal liability. There is a good chance that they have almost nothing of any real value in their name...


Quote:

alexis007 wrote:
Now this is so dumb of Colaneri right now to be tweeting that he is showing his home (a multi-million dollar asset) in a magazine...

"The Cousins ?@CousinsTV 37m37 minutes ago
Peek inside @ColaneriJohn's biggest project - his own home! Full house tour in @HGTVMag's Oct issue, on stands NOW'

He really needs to smarten up.

Posted on: 2015/9/8 20:49
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Re: Kitchen Cousins File for Bankruptcy
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Now this is so dumb of Colaneri right now to be tweeting that he is showing his home (a multi-million dollar asset) in a magazine...

"The Cousins ?@CousinsTV 37m37 minutes ago
Peek inside @ColaneriJohn's biggest project - his own home! Full house tour in @HGTVMag's Oct issue, on stands NOW'

He really needs to smarten up.

Posted on: 2015/9/8 20:31
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Re: Kitchen Cousins File for Bankruptcy
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Dolomiti wrote:
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jerseymom wrote:
I just don't understand how people behave sometimes - like no one is watching....

HGTV flew him to the Bahamas, and are presumably the ones paying for his flight, transportation, hotel and so forth. I don't see how that has anything to do with a personal bankruptcy proceeding.


Well this is true because it's paid by the network, but they should be keeping anything lavish personally that they do or own very very low key.

Posted on: 2015/9/8 19:04
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Re: Kitchen Cousins File for Bankruptcy
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Yikes...very bad news for the Kitchen Cousins. Well, I never did care for their shows anyway.

Posted on: 2015/9/8 18:38
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Re: Kitchen Cousins File for Bankruptcy
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Maybe I could see that about the HGTV trip, but he and his cousin are constantly tweeting (with pictures) about their homes and other assets. That is what is stupid; they should be keeping their assets way out of sight/out of public eye.

Posted on: 2015/9/8 17:51

Edited by alexis007 on 2015/9/8 18:11:58
Edited by alexis007 on 2015/9/8 18:13:58
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Re: Kitchen Cousins File for Bankruptcy
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jerseymom wrote:
I just don't understand how people behave sometimes - like no one is watching....

HGTV flew him to the Bahamas, and are presumably the ones paying for his flight, transportation, hotel and so forth. I don't see how that has anything to do with a personal bankruptcy proceeding.

Posted on: 2015/9/8 17:45
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Re: Kitchen Cousins File for Bankruptcy
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Yes...I certainly know that if I was in his predicament, I would not be advertising any of my luxurious assets. Stupid move.

Posted on: 2015/9/8 17:41

Edited by alexis007 on 2015/9/8 18:02:49
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Re: Kitchen Cousins File for Bankruptcy
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I just don't understand how people behave sometimes - like no one is watching. The administrators of bankruptcy proceedings (and related creditors) take a very dim view to actions like this.

Really stupid.

Posted on: 2015/9/8 17:34
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Re: Kitchen Cousins File for Bankruptcy
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Looks like a pretty cushy life for someone with bad financial problems. The poor girl in that pic next to him looks like she is literally going to vomit. Is it because of the plane or him? :(

Posted on: 2015/9/8 17:31
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Re: Kitchen Cousins File for Bankruptcy
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Anthony Carrino has plenty of assets himself: owns 2 condos in JC (rents one and lives in the other) and several expensive cars and motorcycles. They are not Alfonso Carrino's assets.

Posted on: 2015/9/8 17:28
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Re: Kitchen Cousins File for Bankruptcy
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Posted on: 2015/9/3 23:05
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Re: Kitchen Cousins File for Bankruptcy
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I'm wondering if the older Carrino is involved in all this. I believe it's his company and most of the assets are his, not his son's.

Posted on: 2015/9/3 22:32
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Re: Kitchen Cousins File for Bankruptcy
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Yup..There is no way they will be able to swindle themselves out of this one by filing for bankruptcy. Their assets and earnings are way too great and open/publicized for bankruptcy . There is nothing they can hide this so they will never be granted by any judge bankruptcy/discharge of any portion of this huge settlement against them.

Posted on: 2015/9/3 17:04
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Re: Kitchen Cousins File for Bankruptcy
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I don't think it's that unusual: 50 Cent filed in July after a lawsuit.
http://www.cnbc.com/2015/07/13/50-cent-files-for-bankruptcy.html
"It tells them they aren't going to get a check anytime soon, so why not sit back down at the negotiating table,"

Quote:

Dolomiti wrote:
Hmm, seems a bit odd all around.

First, it seems very strange that they are personally on the hook for the suit. Incorporation ought to protect them personally (that's the point of incorporating). It's possible they were not incorporated when they did that job, I couldn't tell from the article. Seems odd though.

Second, declaring bankruptcy after losing the case is obviously shenanigans, designed to avoid paying (or at least delay payment) on that judgment for as long as possible.

I have my doubts it will work out as planned, since the court will go over their finances with fine-toothed combs, and I'm pretty sure this type of judgment cannot be discharged in a bankruptcy.

Posted on: 2015/8/20 21:12
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Re: Kitchen Cousins File for Bankruptcy
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The have personal exposure because of the CFA claims (no need to pierce the corporate veil), which they violated according to the arbitral finding and award of attorneys fees and treble damages.

Posted on: 2015/8/20 4:37
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Re: Kitchen Cousins File for Bankruptcy
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Hmm, seems a bit odd all around.

First, it seems very strange that they are personally on the hook for the suit. Incorporation ought to protect them personally (that's the point of incorporating). It's possible they were not incorporated when they did that job, I couldn't tell from the article. Seems odd though.

Second, declaring bankruptcy after losing the case is obviously shenanigans, designed to avoid paying (or at least delay payment) on that judgment for as long as possible.

I have my doubts it will work out as planned, since the court will go over their finances with fine-toothed combs, and I'm pretty sure this type of judgment cannot be discharged in a bankruptcy.

Posted on: 2015/8/19 19:55
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Kitchen Cousins File for Bankruptcy
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The co-hosts of HGTV?s ?Kitchen Cousins? home improvement show filed for personal bankruptcy last week after an unfavorable ruling was issued against them alleging they did a shoddy renovation on a home once owned by former New York Yankee Don Mattingly.

John Colaneri, of Ramsey, and Anthony Carrino, filed separately in Newark Aug. 4 after they lost an $860,000 award in favor of homeowners Robert and Peng Avery, NorthJersey.com reported.

The Averys sued Colaneri, Carrino, and Carrino?s Brunelleschi Construction for breach of contract, fraud, and other wrongdoing related to the alleged renovation, the report states.

http://patch.com/new-jersey/wyckoff/f ... -over-bergen-renovation-0

Posted on: 2015/8/19 18:57
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