Mar 14, 2011

Bankruptcy and Philip R. Klein

In recent weeks, Philip has reinvented his financial history again. From a self-written question on his Reader Mail Page:
Philip Klein has filed for bankruptcy. FALSE

This is an old one but good one meant to be put out on the net so that when perspective vendors or client's do a search this comes up. It is part of the lawsuit. I have never filed for bankruptcy.
In response, The Sam The Eagle Political Review published this document from July 1999 which revealed Philip's half-truth:

Philip R. Klein suffered a meltdown. He filed more motions in his silly lawsuit despite a stay issued by the Texas Supreme Court. In his new filings, he named more suspects and posted this editorial:
This morning a decision was made in our offices after review of a document that has been posted on a web site called "Sam The Eagle" web site. The document (1) reprints the Southeast Texas Political Review and 2) prints a PACER document purporting that "Philip Klein" has filed for bankruptcy. It further states that if you want to learn more about "Philip Klein's bankruptcies and his attempts to avoid creditors...." you can go to PACER and read more.

Here is the document that is posted with tags for the internet.
Klein's grainy and bloated image is omitted for bandwidth - see Sam's original page here
PRK continued:
  My first order of business to my legal counsel was to search PACER this morning for any bankruptcies that I have filed. As I already knew - I have never filed for bankruptcy. Never. And I have never avoided a creditor. I then ran a credit check on myself - and there are no bankruptcies on file and my credit is perfect. Further, the document filed was a document from a company called "PRK Enterprises, Inc." which is the parent company at the time of franchises for restaurants in Southeast Texas. There was an adversarial bankruptcy filing due to franchise fees and rights which PRK Enterprise won.

In lue
[sic] of such, a monetary settlement was made and all creditors were paid. At the time, and before the buyout, I was one of five stockholders to the company. Since that point and time, I have bought the entire company and it is now the parent company of this web site.
Philip sold the Southeast Texas Political Review to PRK Enterprises, Inc., for the sum of one dollar shortly after he was sued for defamation by Tom Gillam. You can read those filings here. Notice that Brent Coon is one of two attorneys suing Klein, which puts his preoccupation with Brent in proper perspective.

According to his bankruptcy filing (99-10415) in March 1999, there were 900 shares of common stock in PRK Enterprises, Inc., PRK owned 400, his minor children collectively owned 200, and PRK's ex-wife number one owned 200 shares. The remaining 100 shares were held by PRK Enterprises, Inc.

You can do the math, but I don't believe that Philip's young children had much to do with running PRK Enterprises, Inc. Regardless of my opinion, the actual filing does not support Philip's claim:
For those of you in North Orange County - a business adversarial Bankruptcy case is when a company is told they owe a debt, they are put on a deadline to pay the debt, they disagree with the debt, and file suit on the debt in Federal Court. The reason it goes into the bankruptcy court is 1) because it is a business fight, 2) there is a deadline that "if" the debt is not paid that the company could be forced to close its operations. In order to stay alive - the company forces in adversarial fashion to bring the parties to the table after they refuse to negotiate in good faith.
See the original filing for more clarification:


Perhaps PRK confused another bankruptcy filed in December 1996.

Philip stated in his editorial:
Factually, Philip Klein, has never filed for bankruptcy and this posting is considered an act of deformation.
Factually, Philip R. Klein acted as President of PRK Enterprises when he signed the bankruptcy filing:

The document outlines the total amount of outstanding debt, both secured and unsecured:

Readers can comment on the nature of those debts (intelligently, please) after reading the petition, but I enjoyed this company asset:

I'm not sure why PRK Enterprises, which owned six Dairy Queens at the time, would need a corporate yacht according to the original filing.

Acting upon his previous claims that I am Brent Coon and Sam the Eagle is Michael Neil Harrison, Philip claimed:
This morning - I have authorized my legal counsel to move the original 202 filing in court to a lawsuit. This morning - our legal counsel is preparing a lawsuit to be filed against GOOGLE, Inc., Michael Neil Harrison as well as a local lawyer and his law firm. The law needs to be researched regarding the proper party - but as soon as I have that information I will pass it along to you.

I am not immune to criticism. I accept that. But this is a case of pure anger and hate. Sam The Eagle Web Site continues to call itself parody - they have now lost that argument. They are clearly attempting something far greater than parody. And they will now be held to the standards of the law they expect us to be held to.
Wrong again.


Anonymous said...

I don't get it. Whats an act of deformation?

Anonymous said...

That's when Klein mangles the spelling so bad that you have a hard time figuring out what the hell he's talking about.

Anonymous said...

Klein owed the IRS almost 33,000 bucks...what a hypocrite.

Thanks, Gus! I heard about this for years, but have never seen the actual suit!

Anonymous said...

Anon 612, it wasn't Philip that owed that money to the IRS, it was PRK Enterprises that included Philip, his two children, and his ex-wife #1.

What kind of idiot makes their little kids principals in a corporation and then runs the business into bankruptcy?

Anonymous said...

Philip was the Trustee for the children.

Anonymous said...

Tomorrow Mr. Klein will explain the benefits of bathing and eating radiation particles.

Anonymous said...

How much does he still owe his DQ workers???

Anonymous said...

Klein's claims the SETRPC is guilty of check kiting - apparently, he's quite familiar with that.

Anonymous said...

Phil is desperately seeking new targets since the last one clawed back: a gal named Lindsey, who left him battered, bruised and bleeding.