UPDATE, Friday 11:08 a.m.: An earlier version of this story named Paul Teutul Jr. as the debtor filing for bankruptcy, as was listed on bankruptcy papers obtained by TheWrap. However, Teutul Jr. told TheWrap on Friday that the papers contained a “misprint” listing him as filing for bankruptcy, when it is actually his father, Paul Teutul Sr., who filed for bankruptcy. Teutul Jr. added that he is not suffering financial difficulties.
Previously…
Paul Teutul Sr. is out of gas in the financial department, according to court papers obtained by TheWrap on Thursday.
Teutul, known as the star of Discovery Channel’s “American Chopper,” filed for Chapter 13 bankruptcy on Tuesday.
In the papers, Teutul, who listed his occupation as “steel fabricator” at Orange County Choppers in Newburgh, New York, claims assets of $1,801,729 and liabilities of $1,070,893.44, as well as a tax debt of $51,230.98.
Among the property listed by Teutul is a home in Montgomery, New York, worth $1,800,000, as well as three cars, “one old desktop,” “a few old pistols” and four dogs, described as “pets.”
“American Chopper” initially ran on Discovery from 2003 to 2010, though a revival of the reality series is expected to premiere this year.
Pamela Chelin contributed to this report.