Featured Posts, News Posts, Real Housewives of Beverly Hills

Stunning Details of Paul ‘PK’ Kemsley’s Past Bankruptcy Revealed as RHOBH Star Claims He Shouldn’t Have to Pay Back $1.2 Million Loan and Attempts to Block Wife Dorit From Testifying in Lawsuit

Second Bank Account of Dorit Kemsley's Husband PK Kemsley Facing Seizure Amid RHOBH Star's $1.2 Million Lawsuit

Paul 'PK' Kemsley Claims He Shouldn't Have to Pay Back $1.2 Million Loan Due to Bankruptcy, Details of His Past Bankruptcy Revealed as He Attempts to Block RHOBH Wife Dorit Kemsley From Testifying in Lawsuit

Dorit Kemsley‘s husband, Paul “PK” Kemsley, is attempting to block her from testifying in his $1.2 million legal battle with Nicos Kirzis, who loaned him money in 2011 and claims he was never paid back.

According to a new report, the Real Housewives of Beverly Hills star is scheduled to expose her finances to the court, but her husband has filed documents hoping to prevent any such thing from happening.

Even more, PK, who filed for bankruptcy in the United Kingdom five months after receiving this $1.2 million loan from Nicos, is now claiming he shouldn’t have to pay back the loan to his former friend. He says his debt, including the loan, was erased after he filed for bankruptcy back in March 2012.

During his bankruptcy filing, PK listed his personal debts as ranging from $10 million to $50 million. A report from 2013 revealed that amount to be in the $40 million ballpark, describing PK as a “high-living property tycoon” and a “notoriously heavy gambler” who owed millions in gambling debt. PK, who was reportedly very successful in real estate saw his empire collapse in 2009 due to the recession and housing crisis. PK’s debtors included Spreadex, HMRC, HBOS, and Joe Lewis.

However, despite his bankruptcy, Barclays Bank took legal action against PK in 2012 in the United States over a £5 million loan they made to him. The bank accused PK of hiding his assets in the U.S. Initially, the United States Bankruptcy Court supported Barclay’s claim as Judge James Peck called PK a “bankrupt who does not live like one [with] ready access to abundant free cash.” The judge cited the fact that PK was living a luxurious lifestyle in the U.S. which included renting a palatial New York apartment that cost $15,000 a week, and properties in Beverly Hills, Boc Raton and Hollywood. But two months later, the state court denied Barclay’s claims against PK, citing that the bank effectively mousetrapped themselves.

As for his latest case, The Blast revealed PK is insisting the $1.2 million case be thrown out. He’s also requesting his wife’s September 4 court appearance be pushed back until a decision is made in regard to whether or not the debt he owed Nicos was truly erased. He explained there will be no need for Dorit’s finances to be examined if the debt doesn’t exist.

As fans of RHOBH may have heard, Dorit’s bank account was frozen in July due to the pending case against her husband, which began over one year ago. According to the report, Nicos went to court in an effort to seize the money in the City National Bank account that was listed under Dorit and PK’s name. Shortly thereafter, Dorit went to court in hopes of blocking Nicos from getting his hands on the $29,634.10 that was in the account. As she told the court, the money in the account belonged to her, not PK.

At the September 4 hearing, a judge is expected to decide whether the amount in Dorit’s account should be seized by Nicos, or if it should be released to Dorit.

While PK claims he doesn’t actually owe Nicos any money, he did submit a payment of $250,000 to him. However, as Nicos explained to the court, that only covered the interest that has been building up in the years since the loan was granted.

Currently, there is a remaining balance on the loan of $1,235,573.66.

In addition to the $1.2 million legal battle against PK, both he and Dorit have been hit with federal tax liens over an alleged $1 million dollars in back taxes that was never paid. The first lien was filed after the couple reportedly failed to pay $635,887.23 in taxes for 2015. The second was filed against PK after he allegedly failed to pay $289,423.67 taxes in 2014 and 2016.

Despite their legal issues, a report came out last month revealing Dorit had purchased a new $6.5 million home in Encino, California.  Reality Blurb then exclusively reported that this new home was purchased under a trust which is being managed by Dorit.

Photo Credit: Kathy Hutchins/Shutterstock.com