A Defiant Dr. Phil Takes the Stand in His Media Startup’s Bankruptcy

Dr. Phil took the stand on Tuesday in a trial that will decide the fate of his media startup’s bankruptcy, a case that involves allegations that he plundered the company to set up his new venture.

His testimony, lasting hours, was defiant. At every turn, he challenged accusations that he swindled partner-turned-adversary Trinity Broadcasting under a $500 million, 10-year deal.

“I’m like the little engine that could,” said Dr. Phil, whose surname is McGraw, referring to the months leading up to the bankruptcy in which Merit Street was starved for cash. “I’m doing everything I can to keep Merit up and running. This theory, that this was all a ploy to set up Envoy Media, is absurd.”

He was asked about his motivation to abruptly move for Chapter 11 protection.

“I didn’t make the decision to file for bankruptcy,” McGraw replied. “I capitulated.”

McGraw’s Merit Street is…