Dr. Phil’s Guarantee to Pay Back Friend Gives Judge ‘Heartburn’

Dr. Phil McGraw’s personal guarantee to make whole a friend and creditor of his Merit Street Media Inc. drew concerns from a federal judge considering whether to dismiss or convert the bankruptcy of the media venture.

The concerns from Judge Scott W. Everett came during closing arguments Monday in the US Bankruptcy Court for the Northern District of Texas after more than a week of trial in which Merit Street defended the legitimacy of its Chapter 11 filing in the face of allegations from its Christian broadcast partner, Trinity Broadcasting Network of Texas Inc., and creditor Professional Bull Riders LLC. ...