Pinky Cole is feeling #RHOA relieved after securing a legal win in federal bankruptcy court.
“I’m just happy to get back what is mine,” said the restaurateur turned reality star.
As previously reported, TMZ broke the news that a Loganville home owned by Cole had been seized by creditor Guardian Asset Management. According to court documents obtained by the outlet, the company took control of the property on Feb. 20, changed the locks and posted a notice indicating the home was under its management and not accessible until it was listed for sale.
WSB-TV reported that Cole’s attorney, Jamie Christy, notified Guardian that its actions violated the “automatic stay,” a bankruptcy safeguard that halts collection efforts once a petition is filed, and demanded the property be returned. The creditor allegedly refused, prompting an emergency hearing.
The Loganville property, a massive a six-bedroom, four-bathroom residence, had been used as a rental, with Cole seeking to maintain it as a source of income as she restructures her finances, her attorney said.
According to TMZ, the matter went before a federal bankruptcy judge on Thursday, who sided with Cole after the creditor failed to appear, ordering that the locks be changed and the property returned to her.
Pinky Cole Speaks On Getting Home Back After Creditor’s Seizure
As BOSSIP previously reported, the plant-based restaurant founder filed for Chapter 11 bankruptcy protection on Mar. 2 in the state of Georgia. Court documents show she owes approximately $1.2 million to the U.S. Small Business Administration, tied to a COVID-era Economic Injury Disaster Loan, along with nearly $192,000 to the Georgia Department of Revenue. The total debt listed exceeds $1.3 million.
Despite that, Pinky was in good spirits in court and told WSB-TV that she feels “vindicated” by today’s bankruptcy court win.
“I really do hope that this is a lesson to creditors who brazenly violate the automatic stay and harm debtors because this was not right. But I feel vindicated, and I’m happy to have my property back into my possession,” Cole said. “I’m just happy to get back what is mine, so today is a good day.”
