The bankruptcy of Gerald Gorman and Cook County Commissioner Elizabeth Doody Gorman have been discharged, leaving creditors with $13.5 million in debt, most of which was owed by the couple's former Midlothian Dodge dealership.
The cases were closed Monday, according to a report by Sun-Times Media.
Gorman (R-Orland Park) and her husband still have foreclosure cases pending on their Orland Park home.
Reports Mike Nolan:
Gerald Gorman, a former Chrysler and Dodge dealer, filed for bankruptcy in September while his wife’s filing came in November, just days after her re-election to the county board.
In October 2006, DaimlerChrysler Financial Services won a $4.2 million judgment against the couple related to the financing of new vehicles provided to the dealership. That debt was still outstanding when the Gormans filed for bankruptcy.
Chrysler Financial had also accused the couple of improperly using dealership funds for personal expenses, including making six loans totaling nearly $400,000 to Gorman’s 2002 initial campaign for the county board. An effort by the lender in federal court to recoup some of that money became irrelevant after the bankruptcy filings.
“My husband and I are vindicated and look forward to moving on and not looking back,” Gorman told the reporter in a statement.