Castle Law Office Blog | Missouri & Illinois Bankruptcy Legal Blog

Boss’ lavish lifestyle leads to US Fidelis bankruptcy; Hundreds in Wentzville Still Suffering in Debt

At least 600 employees were laid off from US Fidelis during their bankruptcy. A St. Louis Post-Dispatch article may have pinpointed what caused the bankruptcy in the first place. Darain and Cory Atkinson, the two brothers who own US Fidelis, are reported to owe the Wentzville Company more than $65 million.

Apparently, the brothers used the money to finance their real estate companies and their “lavish” lifestyles. The bankruptcy filing has shown that they used company money to cover 16 relatives on payroll, plumbing work at their grandmother’s house, school tuition for nieces and nephews, and an entertainment center for the parents, among many other personal expenses.

Their spending cost 600 employees their jobs and left them to fend for themselves in this struggling economy. Luckily, there is a Wentzville, Missouri bankruptcy attorney who is prepared to help. Not only have I opened a new convenient location for Castle Law Office in Wentzville, but I’ve also put together a unique layoff report just for the former employees of US Fidelis.

Learn the things no one will tell you after a layoff, the 3 best tips for being prepared for (almost) anything and how Missouri bankruptcy may just be the saving grace for you and your family. Fill out our online contact form or call our office at 866-570-8484 to get your free copy.

UPDATE: A news story was released today on the St. Louis Post-Dispatch concerning the US Fidelis bankruptcy. It seems Judge Rendlen has ruled to allow US Fidelis are allowing current employees to be paid. What about the hundreds that have already been laid off? More to come soon.