After a dramatic courtroom showdown that saw creditors briefly seize one of her homes, Pinky Cole has won the property back. The Slutty Vegan founder, who filed for Chapter 11 bankruptcy in February, described the moment she reclaimed her Loganville, Georgia, investment property as “vindicated” and “relief like no other.”
Home Again
The fight began when Guardian Asset Management seized Cole’s 6-bedroom, 4-bathroom, 2,814-square-foot home, changing the locks and posting notices that it was under their management and “may not be entered until it is offered for sale.” Cole’s bankruptcy filing should have paused any collection activity, but the creditor moved forward anyway, prompting an emergency hearing in federal bankruptcy court.
“I feel relieved that the court gave me authority to reclaim my property,” Cole told WSB-TV “I’m just happy to get back what is mine, so today is a good day.”
Cole owes $1.2 million to the U.S. Small Business Administration and $192,000 to the Georgia Department of Revenue, according to court filings. According to Cole’s attorney, Jamie Christy, Guardian’s actions violated the automatic stay that protects debtors from such seizures during bankruptcy proceedings. “The creditor’s refusal to return the property after being notified that it violated the automatic stay constituted complete indifference to bankruptcy protections,” Christy told TMZ.
The judge agreed, ordering the locks changed and the property returned to Cole, along with coverage of her attorney fees. Guardian did not even appear in court to argue its case.
Cole’s legal victory comes as she joins the cast of “The Real Housewives of Atlanta.” Bravo is highlighting her being a wife, mother of five, and CEO, all while bringing her plant-based empire into the reality spotlight alongside her husband, Derrick Hayes of Big Dave’s Cheesesteak.
“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,” she said. “But I feel vindicated, and I’m happy to have my property back into my possession.”
