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A US judge turns down Dr. Phil's bid to proceed under Chapter 11 bankruptcy for his media startup Merit Street and converts the case to a Chapter 7 liquidation (Winston Cho/The Hollywood Reporter)

Mediagazer · last updated

Winston Cho / The Hollywood Reporter:
A US judge turns down Dr. Phil’s bid to proceed under Chapter 11 bankruptcy for his media startup Merit Street and converts the case to a Chapter 7 liquidation  —  A court determined that the TV host improperly filed for Chapter 11 bankruptcy to protect his own interests, with the intention of paying certain creditors over others.

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