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Friday
Aug222008

Shafted in Pink Elephant and Mansion Bankruptcy

A Little Legal Eagle sent us a copy of the bankruptcy papers for Mansion and Pink Elephant, filed under managing partner Bruce Dunston. Most of the listed creditors are small time, liquor supply companies, payroll, IRS and DOF, attorneys etc. There are a few bold face names that are owed some serious scratch and unfortunately may wind up with 0.0. Let's go to the papers!

  • Kelly Cutrone - People's Revolution owner, Hills star and friend of Steve Lewis is on the list of creditors holding 20 largest unsecured claims. She is owed $20,000
  • Callin Fortis - Nightclub designer to the stars is owed $400,000.
  • Kenneth Barilich - A real blast from the past. The Crobar magnate and reported partner of Peter Gatien from back in the day is also owed $400,000
It's got to be rough to cross these unpaid bills off your expected revenue streams, but the chances of these creditors seeing any of this cash is slim to non. We feel for all of the parties involved, especially the little guys that provided an honest service and should have been paid.


« 1OAK Sued - JE Laughs | Main | Pink Elephant and Mansion File For Bankruptcy »

Reader Comments (12)

Does anyone else think this is a surprise? I don't, It has been well documented to everyone except Steve Lewis that this place was hemorrhaging money. It’s a shame that the creditors didn't see the proverbial "writing on the walls".

August 22, 2008 at 01:20PM | Unregistered CommenterWilly Be G

Guess that party boat down the nile gawker spoke of was a myth

August 22, 2008 at 01:47PM | Unregistered CommenterGoldbar Sundays

Because of the way the deal is structure Pink Elephant gets brought into the mix. I wouldn't expect any major issues for the Pink Guys. the relocated once, I'm sure they can always do it again.

Mansion on the other hand is a disaster. I would expect someone to come and scoop up the lease and end up working out a deal to keep Pink or Buy them out.

August 22, 2008 at 01:53PM | Unregistered CommenterFOR REAL

i think i saw a griffith flying down the nile

August 22, 2008 at 02:16PM | Unregistered CommenterGoldbar Sundays

steve lewis: 'mansion is just what nyc nightlife needs'.

steve lewis: 'i went over their numbers with mark baker and they are having a spectacular year.'

fucking dbag.

August 22, 2008 at 02:54PM | Unregistered Commenterstua

i honestly dig steve lewis' blog, but his mansion posts are so ridic. come on dude, you have to be honest with your readers. even if you are boys with baker and the peeps involved.

August 22, 2008 at 03:25PM | Unregistered Commenterword up

steve lewis' blog could be cool. it's great to interview all of the mysterious nyc nightlife people, but his content is so self-indulgent and self-serving. i mean, all he interviews for the most part are bottle service people. there is so much more to nightlife than the lame shit he writes about. he tends to also write more about himself. also, he clearly shills for his friends. he should have been called out for mansion, but maybe people just write him off as being out of it. i mean, he is so old and still in the nightlife game. the people making all the moves are at least 20 years younger than him. not to mention he is a convicted felon and a scumbag. how can you ever take anyone seriously who blew mark baker and published the shit he did about mansion? and then tried to call out dbth for saying mansion sucked?

August 22, 2008 at 03:43PM | Unregistered Commenterstua

i read the bloomberg story today and it says the building partnership is bankrupt not the clubs that lease from it ... bloomberg says mansion makes 210k a year i dont know the figures for pink elephant but i dont see a company making 12 million a year being bankrupt... read it carefully - kenny and cal are relics from pre mansion and pink this doesnt relate to the current business

August 22, 2008 at 03:54PM | Unregistered Commenterhi hater

blew Mark Baker!! HA HA HA HA HA HA
Classic.

August 22, 2008 at 05:05PM | Unregistered Commentermansionnewyork.com

Pink Elephant and Mansion have nothing to do with this. It's all from Bruce Dunston, who is the general partner of the LP that holds the lease to the building. The clubs that operate in the space have no rights as far as the building goes.

They got a sweet deal since the liquor license and caberet license are for the BUILDING not the CLUBS, thats how they were able to bring new clubs into the space without dealing with the SLA

August 22, 2008 at 05:16PM | Unregistered Commenteranon

Pink Elephant (under Paradigm Management Group) and Mansion (under Mansion 530 LLC) have management and service agreements with Bruce Dunston's Partnership called 530 West 28th Street LLC. Typically under these arrangements, the management groups control promotions and operations and in return they get a cut of the sales and profits generated by the business owned by Bruce's Partnership. Looks to me that after the management took their cut of the sales and profits, there wasn't enough juice left over to sustain a viable business. Bruce's LP pays roughly 100K a month in rent for starters. According to the filing, they over 630K in back rent and real estate taxes. It will be interesting to see what happens next. This is a Chapter 11 reorganization, which means both Pink Elephant and Mansion can continue to operate until they figure out a viable game plan. If the business continues to deteriorate to the detriment of its creditors, the bankruptcy court will force the company into a Chapter 7 liquidation - Game over

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