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For the better part of a decade, American Apparel founder and former boss of the year Dov Charney has proclaimed himself to be on his last dime. Broke despite the 20-room Los Angeles mansion, down to his last $100,000, and ultimately stymied in his effort to get his old job back, it seems he could or should have filed for bankruptcy at any point in the last eight years. In fact, he only did so last month. If you think that timing’s a bit strange, coming as it does so soon after his former benefactors at hedge fund Standard General moved once again to get back all the money he owes it, well, you’re not alone.

Judge Vincent Zurzolo of the U.S. Bankruptcy Court in Los Angeles said Mr. Charney’s bankruptcy was a legal tactic meant to hinder or delay collection efforts by hedge-fund manager Standard General LP to enforce about $30 million in judgments....

Judge Questions Basis for American Apparel Founder’s Bankruptcy [WSJ Pro Bankruptcy]

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By William Murphy (Flickr: American Apparel) [CC BY-SA 2.0], via Wikimedia Commons

Man Who Claims He’s Been Broke For Almost A Decade Finally Files For Bankruptcy

Which filing also shows he’s got as much as $50 million in assets lying around.


Voices In Dov Charney’s Head Cannot Execute Valid Verbal Contract

Dov Charney himself can, and did, execute some valid paper contracts that he’s gonna have to live up to, though.

American Apparel, Attempting To Class Up The Joint, Declares Itself An 'Ho'-Free Zone

Dov Charney's essence live on (because that kind of thing stains).

Dov Charney’s Last-Ditch Plan To Save American Apparel For Himself Hits Snag

Whatever doesn't kill a Dov Charney makes him stronger.