Travis Tritt Concerned About Category 5 Problems
November 21, 2007 at 8:41 AM (PT)
CATEGORY 5 RECORDS artist TRAVIS TRITT has weighed in on allegations that label Pres./CEO RAY TERMINI illegally used funds from his CONNECTICUT nursing home business to fund the label's start up (NET NEWS 11/20).
TRITT is "embarrassed and shocked" to learn that his record label was financed through the parent company of a troubled nursing home chain, and he is seeking legal advice that could affect his affiliation with CATEGORY 5, his manager told the HARTFORD COURANT yesterday (NOVEMBER 20th).
TRITT's manager DUKE COOPER said that TERMINI had represented to him and to TRITT that he was using his "own money" to finance the record label, not assets that could have, or should have, gone into the nursing-home chain. Read the full report here.
Today, TERMINI's HAVEN HEALTHCARE CORPORATION has filed for Chapter 11 bankruptcy protection.