Paul Teutul Sr. of OC Choppers files for bankruptcy
Leonard Sparks
Times Herald-Record
Simplified, they made and sold shit that all fell apart
Paul Teutul Sr., half of the father-son duo who parlayed the Town of Newburgh-based Orange County Choppers custom-motorcycle business into a franchise that included a reality show and a glass-and-steel headquarters with a restaurant and arcade, has filed for bankruptcy.
Teutul, whose reality show was resurrected by the Discovery Channel and had its premier on Thursday, claims assets worth $1,801,729 and liabilities of $1,070,893.44 in a Chapter 13 filing with the U.S. Bankruptcy Court for the Southern District of New York on Tuesday.
While he uses the “senior” suffix in public, court documents were filled under his legal name, “Paul Teutul Jr."
Those documents show Teutul listing combined monthly income of $15,070.93 and monthly expenses of $12,612.
Personal property and household items included three dogs, “a few old pistols” worth $200, “basic furnishings” worth $500 and “one old desktop” worth $25.
Three vehicles are listed as property on the petition: a 2009 Chevrolet Corvette, a 2010 Dodge Challenger and a 2011 Chevrolet Camaro
Teutul’s most significant asset, a Montgomery house valued at $1.8 million, is facing foreclosure from M&T Bank and being marketed for sale. Teutul values his liability to M&T at $904,448.
Other creditors include the Town of Crawford, which is owed more than $51,000 for taxes and other debts; and Maines Paper and Food Service, which is owed nearly $38,000.