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June 21, 2011

Onetime socialite Kluge in bankruptcy protection

"Patricia Kluge, a onetime socialite who had entertained the rich and famous at her sprawling Virginia estate in the 1980s and later tried her hand at building up a national winemaking business, has filed for personal bankruptcy protection with her husband.

A lawyer for the couple, Kermit Rosenberg, disclosed details of the filing Tuesday and added: "They're getting on with their lives, trying to discharge their debts and start over."

In U.S. Bankruptcy Court, Kluge and husband William Moses listed business obligations as their chief debts. The filing estimates their assets between $1 million and $10 million, compared with $10 million to $50 million in liabilities. The couple estimated in the filing in the court in Lynchburg that they have between 50 and 99 creditors.

Kluge acquired the 23,500-square-foot Albemarle House and its 3,000 acres in rural Virginia from her 1990 divorce from billionaire media mogul John W. Kluge, who died in September. It was designed after an 18th-century English country manor with multilevel gardens, fountains, a swimming pool and rustic guest cabin."

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June 21, 2011 in Current Affairs | Permalink


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