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‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
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thegmanifesto Offline
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Post: #1
‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
Steve Wynn smacked this guy.

A typical case of Big Bank take little bank.


Quote:The company behind the “Girls Gone Wild” videos filed for bankruptcy to protect itself from a $10.3 million debt claimed by Steve Wynn’s Wynn Las Vegas LLC and a $5.8 million award won by a woman who says the company used naked images of her without permission.

Last year, Wynn and his company won a slander lawsuit against Joe Francis, founder of the “Girls Gone Wild” franchise, which features college-age women in reality TV-style shows focused on drinking, stripping and sex.

“The court finds that Francis made a knowing and intentional false and defamatory statement,” a Nevada judge ruled in April in awarding $7.5 million to Wynn and Wynn Las Vegas. Francis lied when he claimed he had proof that Wynn tricked high-end gamblers, the judge ruled.

GGW Brands LLC said it had about $16.3 million in debt and less than $50,000 in assets. Affiliates GGW Magazine, LLC and GGW Events LLC also sought Chapter 11 protection yesterday in U.S. Bankruptcy Court in Los Angeles.

The bankruptcy case doesn’t mention Francis or the lawsuit. It was signed by a company manager, Chris Dale, and listed its biggest debt as $10.3 million to Wynn Las Vegas. The company said it disputes the validity of that debt and a $5.8 million claim by Tamara Favazza.

GGW Brands filed for bankruptcy “to restructure its frivolous and burdensome legal affairs,” Francis’s executive assistant, Heather Brook, said in an e-mailed statement. She said Francis hasn’t owned the company for two years.

Like GM

“This Chapter 11 filing will not affect any of Girls Gone Wild’s domestic or international operations,” according to the statement. “Just like American Airlines and General Motors, it will be business as usual for Girls Gone Wild.”

Francis has lost a series of multimillion-dollar court cases, including one in which the Nevada Supreme Court ruled he owed $2 million in gambling debt to Wynn. Francis had sought a discount on the debt and promised to pay after he was released from jail in an unrelated case, according to court records.

Favazza sued Francis in 2008, claiming someone exposed her breasts while filming in a bar in St. Louis for the “Girls Gone Wild Sorority Orgy” DVD series, according to court documents.

Favazza, a St. Louis resident, won a $5.8 million judgment and then sued Francis, GGW Brands and Mantra Films last year in federal court in Missouri to collect.

GGW Brands called Favazza’s claim a “trade debt” in its Chapter 11 petition. In bankruptcy, trade debts are owed to suppliers, vendors and other service providers.

Name Changes

Favazza claimed in her federal suit that Francis evaded creditors by changing the names of his businesses, transferring assets and closing accounts.

Francis owns assets that could be used to satisfy the judgment, including a 1971 Gulfstream jet worth at least $2 million, a $10 million mansion in Bel Air, California, and a $30 million beachfront estate in Punta Mita, Mexico, according to the complaint. GGW trademarks for videos, websites and clothing and apparel total more than $20 million, Favazza said.

http://www.bloomberg.com/news/print/2013...-debt.html

[Image: joe-francis-shutterstock-bukely-ubj*580.jpg?v=1]

[Image: 140710041257_cross-dressing-joe-francis.jpg]

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(This post was last modified: 03-04-2013 01:14 PM by thegmanifesto.)
03-04-2013 01:01 PM
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MikeinMKE Offline
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Post: #2
RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
Joe Francis seemed like he could have had it all - a great, fun business idea that was the closest thing our generation had to Hugh Hefner. He didn't manage his empire properly though.
03-04-2013 01:36 PM
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Giovonny Offline
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Post: #3
RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
I really liked what Joe Francis was doing. He had a chance to be the new age Hugh Hefner. Sadly, It seems that he just couldn't keep it together. I think he has a drug problem and he is sort of a dork.

He is still worth millions so I don't feel bad for him. He has plenty of assets.
03-04-2013 02:12 PM
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thegmanifesto Offline
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RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
I get what you guys are saying by "he had a chance to be the new age Hugh Hefner", but learn your Player history, this guy is no Hugh Hefner.

Some of Hugh Hefner's greatest accomplishments were what he did outside of the mag.

Comparing this guy to Hugh Hefner, is like comparing Sam Bowie to Michael Jordan.

---

Or as I refer to them as "Hugh", "Sam" and "Michael".

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Grew up with gorillas, you grew up on Twitter, don’t care if you follow me.

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03-04-2013 02:24 PM
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Giovonny Offline
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Post: #5
RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
Yes, I knew it was a stretch to compare those two. I suspected Joe Francis was a clown just by the way he talks and carries himself. I think he lacks some of the grace and class the Heff had/has.

Reminds me, I need to read the latest book about Heff..

http://www.amazon.com/Mr-Playboy-Hefner-...er+playboy

You're right. What Heff did for sexual liberation and the playboy lifestyle is light years beyond Joe Francis has done with his titty videos.

Heff had a much deeper and more impactful effect on popular culture.

It like comparing Pele to Kaka!

[Image: images?q=tbn:ANd9GcQmQB0t10qgKo6NNyU42PI...W2DYhOllww]

Pele also rocks a red blazer!

[Image: 130108122108-pele-story-getty-single-image-cut.jpg]
(This post was last modified: 03-04-2013 04:57 PM by Giovonny.)
03-04-2013 04:35 PM
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Timoteo Offline
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Post: #6
RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
Joe Francis always came across to me as an undisciplined clown, acting like he was more interested in being IN the videos, than handling business on the other side of the camera. There's still a lot of resistance against the product his company puts out, so for that reason alone, you have to be smarter about how you comport yourself. He was too interested in being a celebrity and getting attention himself, and didn't know how to manage it.

Men like Hugh Hefner, and by extension Bob Guccione and even Larry Flynt made it possible for guys like Joe Francis to do what they do.

"The best kind of pride is that which compels a man to do his best when no one is watching."
03-04-2013 06:28 PM
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Tex Pro Offline
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Post: #7
RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
He is declaring chapter 11 bankruptcy for his company, right?

So he will just be reorganizing the debts to his company has since he still plans to produce GGW videos.

The main question I have is this: who buys GGW dvds? With all the free porn available on the net you would think there wouldn't be any demand for that shit. Is GGW on a lot of cable pay-per-view channels? That is the only way I could see the company making money.
(This post was last modified: 03-04-2013 09:56 PM by Tex Pro.)
03-04-2013 09:55 PM
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babelfish669 Offline
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Post: #8
RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
Drunk people. You buy a DVD and they sign you up to get them monthly, and then you can't cancel. There are at least a few lawsuits they've had over this.
03-04-2013 10:42 PM
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thegmanifesto Offline
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RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
(03-04-2013 10:42 PM)babelfish669 Wrote:  Drunk people. You buy a DVD and they sign you up to get them monthly, and then you can't cancel. There are at least a few lawsuits they've had over this.

That was basically their biz model.

Lure people in and then re-bill the credit card making it impossible to cancel.

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03-04-2013 11:06 PM
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Christian McQueen Offline
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RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
Joe's idea was smart but he apparently doesn't know how to seperate BUSINESS and PLEASURE.

Comparing him to Hugh is like comparing Kimbo Slice to Muhammed Ali. Retarded. Hugh is a fucking hero and all playboys should study his life for he is one of VERY FEW men living the ultimate dream.
03-04-2013 11:09 PM
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Emancipator Offline
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RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
This is actually a smart move, by moving into bankruptcy Wynn can't try to take over control of GGW.

But as I said when I posted this news last week, its amazing to see people still paying to see amateur tits.

Mother Nature is a bitch & Father Time has an undefeated record
"If you watch cinderella backwards, its about a woman who learns her place." --Kbell

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03-05-2013 12:11 AM
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thegmanifesto Offline
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RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
(03-04-2013 11:09 PM)McQueensPlayboyRules Wrote:  Comparing him to Hugh is like comparing Kimbo Slice to Muhammed Ali. Retarded.

That was the one I was looking for.

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Grew up with gorillas, you grew up on Twitter, don’t care if you follow me.

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03-05-2013 09:07 AM
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A CLOCKWORK TRADER Offline
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RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
(03-04-2013 04:35 PM)Giovonny Wrote:  Reminds me, I need to read the latest book about Heff..

http://www.amazon.com/Mr-Playboy-Hefner-...er+playboy

You're right. What Heff did for sexual liberation and the playboy lifestyle is light years beyond Joe Francis has done with his titty videos.

Heff had a much deeper and more impactful effect on popular culture.

It like comparing Pele to Kaka!
Thanks for the book recommendation. The man is a living legend.

Check out a white knight/uber-religious/fucktard review of the book:
Quote:This guy is a low down,ugly,perverted,dirty old creep who has stolen the innocence of many young women.For those of you who want to defend him,you're just as sick as he is.When you look at those naked women that he uses to line his pockets with,just remember that,that's somebody's daughter.How would you feel if that was YOUR daughter being humilated? Here's hoping that Mr.Hefner repents of his evil ways before its too late. http://www.amazon.com/review/RR0ST7JPYD7BM/
tard

Reminds me of that famous Mencken quote: "Puritanism: The haunting fear that someone, somewhere may be happy."
03-05-2013 10:14 AM
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MikeinMKE Offline
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RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
(03-04-2013 11:09 PM)McQueensPlayboyRules Wrote:  Joe's idea was smart but he apparently doesn't know how to seperate BUSINESS and PLEASURE.

Comparing him to Hugh is like comparing Kimbo Slice to Muhammed Ali. Retarded. Hugh is a fucking hero and all playboys should study his life for he is one of VERY FEW men living the ultimate dream.

He had a chance to do something special... his business was one in a billion.
03-05-2013 10:26 AM
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Cr33pin Offline
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Post: #15
RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
He had his own private Island didnt he.... looked like a place I would like to live

Bruising cervix since 96
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03-05-2013 11:38 AM
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thegmanifesto Offline
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RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
(03-05-2013 11:38 AM)Cr33pin Wrote:  He had his own private Island didnt he.... looked like a place I would like to live

Not an island. I think you are thinking about Richard Branson.

A "$30 million beachfront estate in Punta Mita, Mexico".

But that is neither here nor there.

- MPM
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http://www.thegmanifesto.com

Twitter: https://twitter.com/michaelporfirio

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Grew up with gorillas, you grew up on Twitter, don’t care if you follow me.

"Can't be like the rest", is the most I'll confess.
(This post was last modified: 03-05-2013 11:53 AM by thegmanifesto.)
03-05-2013 11:53 AM
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Giovonny Offline
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Post: #17
RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
(03-05-2013 09:07 AM)thegmanifesto Wrote:  
(03-04-2013 11:09 PM)McQueensPlayboyRules Wrote:  Comparing him to Hugh is like comparing Kimbo Slice to Muhammed Ali. Retarded.

That was the one I was looking for.

Agreed, but, shouldn't it be Kimbo and Muhammed???

Or, Kimbo and "Cash"??

Did you get my joke about Pele and Kaka???

Brazilians go by only ONE NAME! Ha!

I love laughing at my own jokes and then explaining to people why it was funny!
03-05-2013 12:52 PM
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thegmanifesto Offline
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RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
(03-05-2013 12:52 PM)Giovonny Wrote:  
(03-05-2013 09:07 AM)thegmanifesto Wrote:  
(03-04-2013 11:09 PM)McQueensPlayboyRules Wrote:  Comparing him to Hugh is like comparing Kimbo Slice to Muhammed Ali. Retarded.

That was the one I was looking for.

Agreed, but, shouldn't it be Kimbo and Muhammed???

Or, Kimbo and "Cash"??

Did you get my joke about Pele and Kaka???

Brazilians go by only ONE NAME! Ha!

I love laughing at my own jokes and then explaining to people why it was funny!

I didn't get it. I don't know sh*t about soccer.

I do know Pele, and Maradonna because he partied hard.

And George Best, because he was a hard partying Irish Playboy.

[Image: George-Best.jpg]

And Johan Cruyff because he smoked:

[Image: cruyfffag.jpg]

All the best footballers, like other sports were hard partiers and smokers, no?

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Twitter: https://twitter.com/michaelporfirio

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Grew up with gorillas, you grew up on Twitter, don’t care if you follow me.

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03-05-2013 01:04 PM
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Giovonny Offline
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RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
(03-05-2013 01:04 PM)thegmanifesto Wrote:  I didn't get it. I don't know sh*t about soccer.

You probably know more about soccer then you think. The only thing to know is -- put the ball into the "onion bag"!

Like I said, Brazilians often times will use only one name, I'm sure you know this already.

Edison Arantes do Nascimento = Pele

Ricardo Izecson dos Santos Leite = Kaka

Recently, you guys have been joking around about calling celebrities by their first name. Brazilians have been doing this forever.

That was the joke. Make sense? Actually, forget it, explaining jokes makes them less funny!

Moving on,

(03-05-2013 01:04 PM)thegmanifesto Wrote:  All the best footballers, like other sports were hard partiers and smokers, no?

Correct. Even though they are professional athletes who get paid based on their bodies performance, most of them party hard when they get a chance.

I know Kareem Addul-Jabber smokes weed -- and he is the all time leading scorer in the NBA.

I know Robert Parrish smokes weed -- and he has played more minutes then anyone in the history of the NBA.

Larry Bird is a drinker. Micheal Jordan parties hard. Magic Johnson had orgies in the locker room. Wait, that doesn't really apply here!?!

Some of the best athletes I know party really hard, especially the soccer players.

Wait, were you trolling me Micheal?!?

(just playin)
(This post was last modified: 03-05-2013 01:44 PM by Giovonny.)
03-05-2013 01:40 PM
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RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt

I can't have sex with your personality, and I can't put my penis in your college degree, and I can't shove my fist in your childhood dreams, so why are you sharing all this information with me?
03-05-2013 03:06 PM
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thegmanifesto Offline
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RE: ‘Girls Gone Wild’ Founder Joe Francis Files Bankruptcy to Fight Vegas Debt
(03-05-2013 01:40 PM)Giovonny Wrote:  
(03-05-2013 01:04 PM)thegmanifesto Wrote:  I didn't get it. I don't know sh*t about soccer.

You probably know more about soccer then you think. The only thing to know is -- put the ball into the "onion bag"!

Like I said, Brazilians often times will use only one name, I'm sure you know this already.

Edison Arantes do Nascimento = Pele

Ricardo Izecson dos Santos Leite = Kaka

Recently, you guys have been joking around about calling celebrities by their first name. Brazilians have been doing this forever.

That was the joke. Make sense? Actually, forget it, explaining jokes makes them less funny!

Moving on,

(03-05-2013 01:04 PM)thegmanifesto Wrote:  All the best footballers, like other sports were hard partiers and smokers, no?

Correct. Even though they are professional athletes who get paid based on their bodies performance, most of them party hard when they get a chance.

I know Kareem Addul-Jabber smokes weed -- and he is the all time leading scorer in the NBA.

I know Robert Parrish smokes weed -- and he has played more minutes then anyone in the history of the NBA.

Larry Bird is a drinker. Micheal Jordan parties hard. Magic Johnson had orgies in the locker room. Wait, that doesn't really apply here!?!

Some of the best athletes I know party really hard, especially the soccer players.

Wait, were you trolling me Micheal?!?

(just playin)

If I knew how to give you one of those "best comment of the day" badges, I would.

- MPM
The Guide to Getting More out of Life
http://www.thegmanifesto.com

Twitter: https://twitter.com/michaelporfirio

Michael Mason's Facebook

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Grew up with gorillas, you grew up on Twitter, don’t care if you follow me.

"Can't be like the rest", is the most I'll confess.
03-05-2013 03:17 PM
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