No one knows what it feels like behind zebra face paint.  At least, that is the plea of the former KISS guitarist Vinnie “Wiz” Vincent who replaced Ace Frehley for such albums as “Lick it Up” and “Creatures of the Night”.  The guitarist may have been a dutiful Knight in Satan’s Service, but his brothers in arms have long since stopped defending him.  His former band mates plan to sell his songwriting copyrights to make up for the money Vinnie owed the remaining KISSers. The arrears are comprised of $82,000 in attorney fees owed to KISS after V Squared unsuccessfully sued the band for unpaid royalties and defamation of character.

A member of KISS from 1982 to 1984, Vinnie Vincent had the least recognizable KISS makeup, an ankh splayed on his forehead—with an Egyptian ethos in a medieval-horror themed band and a tendency to play thirteen minute long guitar solos with a samurai sword, he was a living, performing non-sequitur. 

KISS knew what they were getting into when they hired him—Vincent had once been a staff writer on Happy Days, hardly in keeping with the demonic essence of the band.  The official reason for his departure from KISS was his “unethical behavior”.  The allegation is none too radial, considering he later got fired from his very own namesake band, the Vinnie Vincent Invasion. 

Though this character profile is relevant to the bankruptcy judge, more pertinent is that he filed Chapter 13 bankruptcy twice in the past three years.  Vincent clung desperately to his share of the songwriting copyrights while the band attempted to cash in, and his two bankruptcy filings were unabashed attempts to protect himself from those lawsuits.  Towards the end of the bankruptcy proceedings, Vincent was representing himself. His overarching argument was that any weak argument he made could be attributed to his inexperience with the law; the bankruptcy judge was not impressed.

Vincent’s rejected bankruptcy is a tough break for the guitarist who now claims he will be destitute. Gene Simmons, however, is a shrewd, some might say ruthless businessman, cashing in on endorsement deals and lending his songs to Dr. Pepper commercials.  Under Simmons’ reign, KISS has been a full-fledged enterprise for over three decades.  For Vincent, keeping it all about the music has not paid off.

You can attain a protective bankruptcy if you play by the rules. The attorneys of Legal Helpers will show you how to gain legal protection you need to stay afloat.  Call us toll-free at 1-800-260-1402 for a free consultation, www.legalhelpers.com

Travel Outfitters Inc. is paying $4.4 million for Winnetka-based Kaehler Luggage, “as part of an assignment for the benefit of creditors, a legal process that in essence is an out-of-court bankruptcy.” Travel Outfitters was formed for the purpose of acquiring the struggling luggage emporium. The article states that the purchase price includes secured debt of $3.8 million, $460,000 in inventory and $50,000 in cash, according to the trustee for Kaehler’s creditors. This according to an article by Sandra M. Jones in the Chicago Tribune.

 The country’s financial downturn brought about both reduced business and leisure travel, leading to a drop of 13% in total luggage sales during the last year for the family-owned company.  Although Kaehler luggage has shown year-over-year gains in same-store sales in each of the last seven months, a healthy business indicator, Buzz Kaehler, grandson of company founder, Walter Kaehler, said that the financial woes go back two years. Kaehler said, “’The reason we could get an investor group…is that they see we have stores that are growing and that consumers are buying.’”

 Kaehler began as a locksmith shop in suburban-Chicago Evanston, expanding into luggage when customers wanted new steamer trunks. In 2007, the company owned 15 stores in the Chicago-area and St. Louis, Missouri. They presently run six stores in Winnetka, Highland Park, Schaumburg, Oak Brook and Chicago, having closed their Skokie location at the end of June 2010.

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Ralph O. Esmerian, the former owner of vintage jeweler Fred Leighton, Inc., is fighting an effort by creditors to liquidate R. Esmerian Inc. in U.S. Bankruptcy Court in Manhattan. The jeweler asked the court to convert that case to a voluntary reorganization under the U.S. Bankruptcy Code’s Chapter 11, which is typically used by companies that expect to cut debt and emerge from court protection. In the article by Steven Church, Esmerian has also asked the judge to appoint an examiner to oversee his bankruptcy case.

Creditors, including Stewardship Credit Arbitrage Fund LLC, Stewardship Credit Arbitrage Fund Ltd. and Northlight Fund LP, filed an involuntary Chapter 7 bankruptcy petition against R. Esmerian Inc., saying that they are owed $40 million.

Under Chapter 7, the court appoints a trustee to take over a company and liquidate any assets. When creditors file an involuntary bankruptcy case against a company, the business has the right to challenge the petition.

Esmerian had previously filed for bankruptcy in April 2008 on behalf of Fred Leighton Inc., in an attempt to block Merrill Lynch & Co. from auctioning his family’s jewels to pay off a $178 million loan. Fred Leighton Holding Inc. liquidated inventory and had its Chapter 11 reorganization plan confirmed in November.

For information on filing for Chapter 7 or Chapter 11 personal bankruptcy protection, please call Legal Helpers toll-free today at 800-260-1402 to speak with a qualified and compassionate bankruptcy attorney. They have helped tens of thousands of people who, like you, have complicated financial and legal encumbrances. They can help you, too.