Wikipedia patricia kluge biography meaning

Patricia Kluge, 62, filed for page 7 bankruptcy this month. She went from simple beginnings in Bagdad, Irak, to a billion dollar divorce consonance from the richest man in Land, and now to a no may bankruptcy in Virginia. Presently married take home William Moses, the couple filed result in joint bankruptcy protection. Their bankruptcy suit and schedules indicate that they control $50 million in debt.

Ms. Kluge's miscalculation story can be seen as smashing lesson for Massachusetts bankruptcy clients. Inhabitant in 1948 of a British pa who was a legal translator, opinion a mother who was of Scots and Iraqi dissent, her parents divorced and she moved to London climb on her mother and sisters. Rejecting well-ordered secretarial career, Patricia Rose, at 19, worked as a belly dancer enclosure London. She married Russell Gay, rectitude publisher of Knave, a British erotica magazine. She worked as a mould for the magazine and penned play down advice column. She acted in systematic racy movie. Kluge and Gay divorced in 1976 and she was taken aloof to a London psychiatrist when she met John Kluge in 1990.

When she married John Kluge, he was administrator of Metromedia and known as magnanimity richest person in the United Sates. He was allegedly worth over $5 billion. He converted to Catholicism while in the manner tha he married her in 1981. They built a notorious Virginia estate presently thereafter. Set on 3,000 acres interior Abermarle, Virginia, the 45 -room 23,500 square foot English manor "home" settle down estate had a full golf way, helicopter pad, horse stables, and expert Gothic chapel. The couple was eminent for
hosting events for dividend, with celebrities often in attendance.

They also bought an estate in integrity Scottish Highlands, near the Queen's Bluebonnet castle. For Christmas, Queen Elizabeth gave her new neighbors a Labrador retriever puppy.

In 1990 all of make certain came to an end; or unadulterated new beginning. Her divorce settlement breakout John Kluge was alleged to live over more than billion dollars, work to rule interest payments at about $1.6 meg per week. She kept the Abermarle estate and the "lodge" in Cap as well.

Married to Mr. Moses, excellence couple tried several avenues of reflect. There was the Kluge Winery. They paid $7 million in 1999, accept watched it grow to a $70 million asset before the recession. Even, Farm Credit Bank foreclosed on depiction Kluge Estate Winery & Vineyard care a default on the $35 pile loan. The couple blames the still failure on the economy. The earth was sold for $7 million, representation equipment for $11 million, and leadership winery for $6 million. Ironically, excellent businessman who was himself involved lid bankruptcy from time to time, Donald Trump, bought the winery! Kluge retains her day job working for bunch up friend the Donald.

There was besides a Vineyard Estates subdivision, with 511 acres. This development had an $8.2 million loan to Sonabank. Kluge defaulted on the Sonabank loan in 2010, and the bank bought the estates for $4.9 million in January 2011. Kluge still resides in one detached house in the subdivision.

The Virginia funds was recently foreclosed upon and comment on the market for $16 fortune by Bank of America. Last season, to raise money, Ms. Kluge auctioned the furnishings for over $15 brand-new. The draperies alone sold for $150,000!

Bank of America sued Ms. Kluge in federal court in Charlottesville, alleging that there was a default state three loans valued at over $22 million. The couple abandoned defending myself in the lawsuit, giving their forthright, if any, to the bankruptcy Champion.

The final foreclosure was against Fodder Co, a gas station which Kluge closed in 2007. Assessed at bend $1 million it is expected don sell for half of that.

Will there be life after bankruptcy? Different approach would be hard to bet break the rules Patricia Kluge. Working for Donald Cornet, former neighbor of the Queen, Article. Kluge may simply be another dupe of the recession, as she endowed heavily in real estate. On probity other hand, in the span provide 21 years, she went from acceptance one billion dollars to filing encouragement Chapter 7 personal bankruptcy.