Husband of Reality TV Personality No Stranger to Chapter 7 Bankruptcy
A couple of White House party crashers have recently found themselves in a less desirable spotlight: bankruptcy.
It often seems that reality television personalities will go to great lengths to mingle with the rich and famous. This seemed true when Tareq Salahi and his wife, Michaele, crashed a White House state dinner back in November.
The party crashing garnered the couple nationwide attention, and raised questions about White House security after they made their way into the gala without having been invited.
Michaele Salahi is now on the Bravo channel’s reality TV show “Real Housewives of D.C.”
Now, her husband, Tareq Salahi is listed as the president of a polo club that has filed for bankruptcy in Harrisonburg, Virginia.
America’s Polo Cup Inc., of Front Royal, filed for Chapter 7 bankruptcy in mid-September, according to NVDaily.
According to the bankruptcy petition, America’s Polo Cup brought in more than $400,000 in 2008, and around $480,000 in 2009. In 2010, the company made just over $50,000. The money brought in by the company stems from the horse-and-rider sport of the upper crust, polo.
In the petition, the company listed $67,000 in assets. These assets are in the form of money that other debtors owe it.
As for liabilities, Salahi’s America’s Cup Polo Inc. owes around $300,000. The large majority of that liability is owed to a catering company, Salamander Middleburg LLC. The money owed is the subject of a civil court case between the polo club and the caterer in a neighboring county.
This is not Salahi’s first visit to bankruptcy court. In 2009, a winery business in his family, Oasis Enterprises Inc., filed for Chapter 7 bankruptcy in Virginia. In that filing, indications were that funds had gone towards luxury items like an Aston Martin sports car and a boat worth almost $100,000.
Salahi had attempted to have that bankruptcy filing dismissed or stayed. Toward that goal, according to NVDaily, Salahi “recently filed a motion to dismiss or stay the case involving his mother, claiming that he holds power of attorney for his father, Dirgham Salahi, and didn’t give the necessary approval to file for bankruptcy.”
The court denied this motion. Salahi claims to be the majority shareholder of the vineyard. He expressed concern that his mother did not gather the board and hold a meeting before filing for Chapter 7 bankruptcy.
The motion to dismiss the case was filled with criticism of his mother and her business handling of the winery.
“The bankruptcy filing may have compromised the wine business beyond repair,” it states. “Corinne Salahi is not an expert in the wine business.” He went on to criticize her lack of care or maintenance in preserving the wine and wine equipment that makes up the bulk of the bankruptcy filing.
The poor treatment of the wine would lead to hundreds of thousands of dollars in losses, the motion said.
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