With respect to the legal issues, it is likely that something gets to state court sooner than later. If the lawsuit related to past events, it would take years. However, if they are fighting over day to day control, they will likely be in court when one side decides to try to kick the other out immediately or if there are issues of handling the money. As for bankruptcy, is the restaurant a separate entity? Who holds the debt? If it is just a lost investment of JC, or continuing losses of his investment funds, bankruptcy would do not good at all. Bankruptcy is basically to reorganize debt, not reorganize investments or ownership. It is speculation, but for something like this, the major lender is probably a bank with a security interest in the real estate. Bankruptcy won't help that either, and most likely they are being paid. That aside, what I see is one person who wants the glory without the effort of managing, and one person who is an expert at managiang and making money. On paper, it seems like a great team. If Rocco could have a chance at having a restaurant with his name on it, show up when he wants, have no real responsibilities, and basically be a celebrity, what is he holding out for as the restaurant is going down the tubes?
