The Bankruptcy Court appointed a Trustee (Responsible Party) to determine, among other things, where the funds had been expended. As a result, the Responsible Party filed in excess of 20 lawsuits against various entities and people who allegedly improperly received funds from Signature Apparel. The lawsuits were filed because the Responsible Party had a good faith belief that Signature Apparel executives improperly paid entities and people to “bleed” Signature’s assets and thus deprive creditors of their rightful entitlement to be paid. One of the lawsuits was filed against the Laurita family members – Christopher & Jacqueline Laurita, Joseph & Adelene Laurita and Anthony Laurita demanding the return of $7.9 Million dollarsThe following is a breakdown of each of the lawsuits/Adversary Proceedings filed by the Responsible Party on behalf of Signature Apparel and it’s Creditors:
1. Against Roc Fashions, LLC with demand for $ 2.8 Million Dollars.
2. Against Artful Holdings with demand for $400 Thousand Dollars
4. Against Hurley International with demand for $2 Million Dollars
WORK IN PROGRESS