This cover image released by Girls Gone Wild shows the September 2009 issue of "Girls Gone Wild." (AP Photo/Girls Gone Wild via PRNewsFoto)-
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LOS ANGELES (AP) - The company
behind the "Girls Gone Wild" video empire has filed for bankruptcy in
a move it says is an effort to restructure its legal affairs after several
disputed court judgments.
GGW Brands LLC and several
subsidiaries filed for Chapter 11 bankruptcy on Wednesday in Los Angeles, listing more than $16 million in
disputed claims.
The largest claim is $10.3 million
that Wynn Resorts Limited is seeking from the company for judgments entered
against "Girls Gone Wild" founder Joe Francis over a gambling debt
and statements he has made about the casino and its founder, Steve Wynn.
Francis no longer owns the company,
which has made a fortune selling videos and magazines of young women flashing
their breasts.
"Girls Gone Wild" issued a
statement that it is financially strong but needed to "re-structure its
frivolous and burdensome legal affairs."
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rewritten or redistributed.)
