Three Banks and a Venture Capital Company Push Music Entrepreneur Lou Pearlman Toward Personal Bankruptcy
In Central Florida, an involuntary petition for personal bankruptcy against music entrepreneur Lou Pearlman was filed by American Bank of St. Paul, Minnesota, First National Bank of Trust of Williston, North Dakota, Tatonka Capital Corp. of Denver, Colorado and Integra Bank of Evansville, Indiana. They claim he owes them a combined $48 million.
Claims by each petitioner:
· American Bank $27.1 million
· Tatonka $6.2 million
· First National Bank $14.2 million
· Integra $895,000
In an unrelated Chapter 11 bankruptcy petition, a number of Pearlman’s downtown properties moved closer toward the auction block.
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