All posts containing the tag: "bankruptcy"
Posted Oct 28th 2009 12:07AM by TMZ Staff
Being broke usually means it's time to make sacrifices, but not for Michael Madsen -- dude declared bankruptcy, then allegedly racked up $80,000 in unpaid rent on a mansion ... and now faces eviction.
According to docs filed last Thursday in Los Angeles Superior Court, the owner of Michael's luxury Malibu home claims the "Kill Bill" actor skipped out on his $20,000/month rent four months in a row ... and now owes $80,000.
If he doesn't pay up, Michael could be homeless -- according to the docs, the owner intends to evict him if the debt isn't covered.
It's unclear how Michael planned to pay his rent since he filed docs for bankruptcy back in June, which say his net monthly income was $-3,392.
Filed under: Celebrity Justice, Exclusives
Tags: bankrupt, bankruptcy, eviction, kill bill, KillBill, michael madsen, MichaelMadsen
Posted Sep 6th 2009 10:15AM by TMZ Staff
In the world of high-end photography, Annie Leibovitz's portfolio is the equivalent of The Beatles' catalog -- and she's in danger of losing it all.
Leibovitz, who took the infamous last photo of John Lennon before he was assassinated, is facing catastrophic financial problems -- if she doesn't pay back a $24 million loan by Tuesday, she'll lose the rights to every big photo she's ever taken. The list includes that controversial Miley Cyrus photo from last year, the pregnant Demi Moore Vanity Fair cover, the cover of Bruce Springsteen's "Born to Run" -- and really every interesting VF cover for the last 20 years or so.
In classic Michael Jackson-esque form, Leibovitz sunk deep into debt and then got a loan using her photo catalog (estimated at $40 million) and homes as collateral.
Tuesday is D-Day.
Filed under: Celebrity Justice
Tags: annie leibovitz, AnnieLeibovitz, bankruptcy, john lennon, JohnLennon, photographer, photography, photos, rolling stone, RollingStone, vanity fair, VanityFair, yoko ono, YokoOno
Posted Jul 22nd 2009 1:05AM by TMZ Staff
Stephen Baldwin has really set himself apart from his brothers -- he's the broke one now -- because he just filed for Chapter 11 bankruptcy in New York.
Court docs show Baldwin and his wife owe $1.2 million in mortgages on their home 30 miles north of NYC, along with $1 million in taxes and $70,000 in credit card debt.
There is one small ray of hope for the couple: Their home wasn't auctioned off yesterday as planned -- it was postponed to a later date.
Tags: bankruptcy, broke, foreclosure, stephen baldwin, StephenBaldwin
Posted Jul 8th 2009 9:00AM by TMZ Staff
Former New York Met Lenny Dykstra is officially broke -- he just filed for bankruptcy -- so he owes the TMZ staffer he called a "f***ing drama queen" last month an apology.
Dykstra, who just filed for Chapter 11 in California, went ballistic when we called to ask if his $400,000 Rolls-Royce Phantom had been repossessed. We had a photo of the car being towed -- so it's not like the question came out of left field.
Since Lenny is currently facing multiple lawsuits, home foreclosure and divorce -- his lawyer explained the filing to the New York Daily News by saying it was a move to "shield his property from a host of meritless claims."
Either way, the papers show he's over $30 million in the hole.
Filed under: Talk Sports
Tags: bankruptcy, lenny dykstra, LennyDykstra, new york met, NewYorkMet
Posted Jun 24th 2009 1:45AM by TMZ Staff
Nothing ruins a good friendship like money -- so it's safe to say Pierce Brosnan and Quentin Tarantino won't be talking to Michael Madsen anytime soon.
Seems Madsen is in debt to both guys big time. According to bankruptcy documents Madsen filed earlier this month, he owes $25,000 to 007 -- but he's into QT for a cool $1 million!
Pierce and QT shouldn't hold their breath while they wait for the "personal loans" to get paid back -- Madsen is almost a total of $4 million in the hole, and the docs say his net monthly income is $-3,392.
Filed under: Celebrity Justice
Tags: bankrupt, bankruptcy, kill bill, KillBill, michael madsen, MichaelMadsen, pierce brosnan, PierceBrosnan, quentin tarantino, QuentinTarantino
Posted May 29th 2009 1:10PM by TMZ Staff
Welcome to Chapter 13 in the Scott Storch-is-broke-again saga -- today we've learned how the once-loaded music producer now has more debt than he has dollars.
Storch filed a bunch of papers in U.S. Bankruptcy Court, revealing that Scott owes $58,077.37 to 13 creditors in 7 states.
To put this in perspective, dude's net worth was reportedly $70 million in 2006.
Storch had produced music for Britney Spears, Christina Aguilera and Chris Brown. Now he has more in common with Suge Knight.
Tags: bankruptcy, britney spears, broke, christina aguilera, money, music, producer, scott storch, ScottStorch, suge knight
Posted Apr 2nd 2009 2:41PM by TMZ Staff
Everyone is expecting Michael Vick to return to the football field after his incarceration, but he has other plans -- as in floorplans.
Vick's lawyer announced in Bankruptcy court today that the former QB has a construction job lined up after his prison release and Vick will work a regular 40 hour work week. Further details about wages or the duration of his new career were unavailable.
After being the highest paid player in the league, Vick was suspended indefinitely from the NFL after his 2007 indictment. The NFL Commissioner has said he will review Vick's status after he is released.
Who needs football when you can have drywall?
Filed under: Wacky & Weird, Talk Sports
Tags: bankruptcy, construction work, ConstructionWork, court, football, michael vick, MichaelVick, NFL
Posted Feb 17th 2009 3:30AM by TMZ Staff
The stock and housing markets have crashed, people are losing jobs by the thousands everyday. But now there is an undeniable marker of hard times: Part of The Donald has gone belly up.
Trump Entertainment Resorts Inc. filed for Chapter 11 this AM in a New Jersey bankruptcy court. The company had until today to reach an agreement with bond holders to restructure $1.25 billion in debt.
D.T. resigned from the board on Friday.
Filed under: The Rich Life
Tags: bankrupt, bankruptcy, Chapter 11, Chapter11, Donald Trump, DonaldTrump, The Donald, TheDonald, Trump Entertainment Resorts, TrumpEntertainmentResorts
Posted Apr 21st 2008 2:00PM by TMZ Staff
Apparently Gail O'Grady is an expert in cards, because she's jacked two Vegas Casinos around, at least according to legal documents.
Caesars Palace Hotel & Casino and Bally's/Paris Las Vegas filed paperwork in U.S. Bankruptcy court, claiming the "NYPD" star owes them a fortune. According to documents, O'Grady, who has filed for bankruptcy, owes Caesars $160,000 in gambling debts and owes Bally's $75,000. Both joints want to make sure the bankruptcy judge doesn't let Gail O off the hook.
According to the National Enquirer, O'Grady owes big bucks to casinos, credit cards, the IRS, her mortgage company as well as to family, friends and "colleagues."
O'Grady admits she took out the gambling loans, but claims the casinos knew her financial situation and knowingly threw caution to the wind.
Gail's reps had no comment.
Filed under: Celebrity Justice, Wacky & Weird
Tags: Ballys Hotel, BallysHotel, bankruptcy, bankruptcy court, BankruptcyCourt, Caesars Palace Hotel Casino, CaesarsPalaceHotelCasino, Gail OGrady, GailOgrady, Las Vegas, LasVegas, NYPD Blue, NypdBlue, Paris Las Vegas, ParisLasVegas
Posted Apr 5th 2006 10:59AM by TMZ Staff
One of Hollywood's original "Kings of Bling" has gone bust. Marion "Suge" Knight, head of Death Row Records, has filed for Chapter 11 personal bankruptcy this morning in federal court. The groundbreaking record company he founded is apparently planning to also file for bankruptcy later today.
The legal maneuvering comes after Knight recently lost a $107 million judgment to Lydia Harris, who claimed to be half-owner of the rap empire. In her complaint, Harris alleged that Knight schemed to "destroy her ability to lay claim to her rightful share of the ownership and profits" of the label. Superior Court Judge Ronald Sohigan found that Knight did not answer legal inquiries in the case nor did Knight provide information requested by the court, so he found in favor of Harris before the case even went to trial
Click here... it's not over yet
Filed under: Celebrity Justice, Suge Knight
Tags: Bankruptcy, Suge Night, SugeNight
