Catwoman Jocelyn Wildenstein files for BANKRUPTCY and claims she has no savings or stockby Richard Bailey 18/05/2018 02:11:00 0 comments 1 Views
- Jocelyn Wildenstein filed for Chapter 11 bankruptcy protection earlier this month in federal court, just 19 years after pocketing $2.5 billion in her divorce
- The socialite has no checking or savings accounts, has not invested in any stocks or bonds and set up no retirement or pensions funds she claims in the filing
- Wildenstein values her wardrobe of furs and luxury bags at $1,000 and says her jewelry is worthless months after getting a 32-carat diamond ring
- Her total personal property is valued at $16,386,100 and largely comprised of her apartment and the $4.5 million she has yet to receive from her divorce
- That amount exceeds the $6,380,080 she claims to owe her 16 creditors, but she stated that she wanted to file Chapter 11 to avoid liquidation of her assets
- A voluntary petition was filed against Wildenstein by three of her creditors in April, including the Board of Managers at Trump World Tower
By Chris Spargo For Dailymail.com
Published: 21:13 EDT, 17 May 2018 | Updated: 02:11 EDT, 18 May 2018
Jocelyn Wildenstein received a reported $2.5 billion in her divorce from her art dealer husband Alec back in 1999, and 19 years later it appears that it is all gone.
The Swiss-born socialite, who earned the nickname Catwoman in a nod to her cosmetically-altered feline features, has filed for Chapter 11 bankruptcy protection according to federal court papers which were obtained by DailyMail.com.
It is a shocking turn of events for Wildenstein, who first became a fixture in the New York press around the time of her split as she bragged about the high costs of her lavish lifestyle and penchant for plastic surgery.
Two decades later, the woman who once purchased a capuchin monkey as a pet finds herself with no checking or savings accounts, no retirement fund or pension plans and no investments according to her filing.
The filing also lists the $900 check Wildestein gets from Social Security each month as her only source of income.
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Feed the kitty: Jocelyn Wildenstein (above) filed for Chapter 11 bankruptcy protection earlier this month in federal court, just 19 years after pocketing $2.5 billion in her divorce
Cat-astrophe: The socialite (above in Dec. 2016) has no checking or savings accounts, has not invested in any stocks or bonds and set up no retirement or pensions funds she claims in the filing
Wildenstein does believe that her assets outweigh the amount owed to her creditors by about $10 million, though there are a few red flags in the filing.
The most glaring seems to be Wildenstein's estimates for the value of her wardrobe ($1,000) and jewelry ($0).
Those figures in the legal document are despite the fact that she is seldom seen without a large fur, luxury handbag or her 32-carat diamond engagement ring while strolling the streets of Manhattan.
The filing comes after an involuntary petition was filed against Wildenstein by three of her creditors including the Board of Managers at Trump World Tower Condominium, who are in the process of foreclosing on the three apartments she owns in the building.
The other two petitioners were the law firms of Carter Ledyard & Milburn and Matalon Shweky Elman, who claim to be owed $124,605.46 and $78,474.23 respectively for unpaid legal services.
Wildenstein had until May 4 to respond to their filing, at which time she submitted her Chapter 11 forms in US Bankruptcy Court for the Southern District of New York.
The socialite states in the filing that she will have a better chance of clawing her back and paying off her debts through Chapter 11 protection rather than liquidation of her assets.
Wildenstein's lists 12 creditors with unsecured claims against her, including: the contractors who did work on her Manhattan apartments ($175,000); the owner of a Beverly Hills bungalow she rented back in 2014 ($165,000); a Manhattan furniture store ($80,000) American Express ($70,000); her architect ($25,000); a real estate agency ($12,000); and a storage company ($8,000).
Cat got your rung? Wildenstein says her jewelry is worthless despite owning a 32-carat diamond ring (above)
There are four law firms who in total are owed over $273,000 as well as $30,431.00 that the socialite is paying to the New York State Department of Labor for what she describes as 'law obligations.'
The list of creditors whose claims have been secured by property is shorter, which just four comapnies listed.
The values are far higher however, with Wildenstein owing $179,000 to the Board of Managers at Trump World Tower Condominium and $4.6 million to Castellan Capital, which is by far the highest debt incurred by the socialite.
Those are both secured by her $11.75 million apartments.
Wildenstein also owes $38,000 to Chase Auto Finance, which is secured by her 2006 Bentley, and $700,000 to a Manhattan storage company, which is secured by her furniture.
That last debt is another red flag, as she previously claims her furniture to be worth only $100,000, which would not be enough to cover that debt.
Her total personal property is valued at $16,386,100 and largely comprised of her apartment and the $4.5 million she has yet to receive from her divorce, despite her ex Alec having passed away in 2008.
The good news is that this amount exceeds the $6,380,080 she claims to owe her 16 creditors.
Wildenstein, who is already involved in court proceedings with many of her creditors, states that her goal is pay all parties back the money they are owed.
Purr-fect pair: Her total personal property is valued at $16,386,100 and largely comprised of her apartment and the $4.5 million she has yet to receive from her divorce (Wildenstein and Lloyd Klein above in November 2017)
Clawing her way back: That amount exceeds the $6,380,080 she claims to owe her 16 creditors, but she stated that she wanted to file Chapter 11 to avoid liquidation of her assets
It is a far cry from 20 years ago, when Wildenstein detailed her wild spending and acrimonious separation in a 1998 interview with Vanity Fair.
She recounted dropping $350,000 on a Chanel dress, building a $3million mansion for her daughter on the family's Kenyan reserve Ol Jogi for her 17th birthday and her many plastic surgeries.
'She was crazy. I would always find out last. She was thinking that she could fix her face like a piece of furniture. Skin does not work that way. But she wouldn’t listen,' said Alec at the time.
Things got so bad between the two during the separation that Alec's father Daniel had Jocelyn banned from the family properties - a New York town house, their Paris chateau (the largest private residence in the city at the time), the 66,000-acre Ol Jogi ranch, and the private compound in the British Virgin Islands.
At the same time her credit cards were cut off and had her monthly allowance lowered to just $50,000, which her lawyers fought in court.
That all changed however with her massive settlement in 1999, which has allowed her to live comfortably ever since.
Jocelyn and Alec first met when she was 31 and they were both on safari with friends in Kenya at Ol Jogi.
'A lion had to be killed at a neighbor’s ranch,' Alec recalled in Vanity Fair.
'The night before, Jocelyn asked, "Could I go with you?" I said, "As long as you keep your mouth shut."'
The next day they went and killed the lion, rode motorcycles and kissed for the very first time, with Jocelyn calling the moment 'quite intense.'
She was born and raised in Switzerland and, according to Alec, had dated some very high-profile men before him.
Among the men she had been linked with were European filmmaker Sergio Gobbi, Cyril Piguet, and Saudi arms dealer Adnan Khashoggi.
The pair eloped to Las Vegas in 1978, and one year later they both went in for their first plastic surgery operation - his-and-hers eye lifts.
'I don’t think I’ve known her when she wasn’t healing from something,' said a friend of Jocelyn in 1998.
Her looks then became more and more feline, though Jocelyn said the resemblance was always there.
'If I show you pictures of my grandmother, what you see is these eyes - cat eyes - and high cheekbones,' she said.
'I don't think there's anything wrong with it, and other than tightening up my appearance never change,' said Wildenstein in a 1999 interview with New York.
'My clothes, I am still the same size when I was 16 years old. You like to stay young - to stay healthy. I do a lot of waterskiing with my son.'
She also said she had never had her nose done.
The couple had two children early in their relationship, Diane and Alec Jr., but Alec's father never warmed to Jocelyn.
'My father checks things out. My father tried to warn me,' said Alec of his estranged wife back in 1998.
Their relationship took a turn when Jocelyn returned to New York City from Kenya and showed up unannounced at the couple's New York City townhouse, despite her husband asking that she not enter the residence.
He pointed a gun at either Jocelyn or one of her bodyguards, police were called and Alec spent the night in prison.
Alec was also reportedly in bed with a young Russian woman at the time.
After Alec's arrest Jocelyn was allowed to use the house while he stayed at the Four Seasons, but complained in court papers that she was unable to use the stove and therefore needed money to hire help.
Her lawyer called her a 'prisoner in her own home' while asking for $200,000 a month.
New York toured the home at the time, revealing that there was a glass case above Jocelyn's bath to hold May Moon, her pet monkey.
The pool room meanwhile had tanks filled with sand sharks, spotted eels, and neon terras.
At the time Alec had been seeing a young Russian named Yelena Jarikoaa, who was just 20, but that fizzled out within a year and he eventually met and then married Stoupakova.