New York UFC fans may find it interesting that Edmond Taverdyan, the coach of superstar UFC fighter Ronda Rousey, filed for Chapter 7 bankruptcy on July 29. What makes this unusual is that, despite coaching one of the world’s most dominant and celebrated fighters, Taverdyan lists his occupation as “Not Employed” and claims his income is “$0.00” in court filings.
Chapter 7 bankruptcy is for debtors who do not have the financial ability to pay their existing debts. Taverdyan claims he has only $3,300 in assets. His listed debts include $194,000 to Citibank, $163,000 to Citibank South Dakota, $136,000 to Bank of America, $117,000 to Barclays Bank Delaware, $22,000 to HSBC Bank Nevada, $11,953 to Glendale Memorial Hospital, $8,496 to Discover Bank, $7,294 to HSBC Bank and $6,411 to Discover. Further, Taverdyan also submitted a declaration claiming he has not filed a federal tax return for “several years now.”
On Oct. 21, the appointed bankruptcy trustee requested permission to hire an attorney to assist in investigating Taverdyan’s case. He is particularly concerned about the fact that Taverdyan transferred his interest in G.F.C. Fitness, which owns a training facility called the Glendale Fighting Club in Glendale, California. Preferential transfers of this type raise red flags during the bankruptcy process because trustees become suspicious debtors are attempting to hide assets from creditors. Taverdyan is scheduled to meet with creditors on Nov. 16.
New Yorkers who are facing financial difficulty may benefit by speaking with an attorney. After reviewing the details of the case, legal counsel may recommend filing for bankruptcy to eliminate debt and stop repossession or foreclosure proceedings.
Source: Bloody Elbow, “Ronda Rousey’s coach claims bankruptcy, trustee pursues GFC for liquidation,” Paul Gift, Nov. 3, 2015