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Archive for Friday, October 8, 2010

Toni Braxton files for second bankruptcy

October 8, 2010

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— Toni Braxton has filed for bankruptcy a second time, citing millions of dollars in debt and financial problems exacerbated by a heart condition that forced her to cancel a series of Las Vegas shows.

The filing will likely result in the six-time Grammy Award winner having to sell some of her assets to pay off debts listed in court records as ranging between $10 million and $50 million.

Her attorney, Debra Grassgreen, said in a statement the filing will allow Braxton to pay off tax debts, sell heavily indebted property in Atlanta and still care for her children.

Braxton has had high-profile health issues in recent years. In 2008 she was forced to cancel a series of Las Vegas shows after experiencing chest pains that were later diagnosed as microvascular angina. Later that year, she performed on the ABC series “Dancing with the Stars” but missed the finale while recovering from removal of a benign breast tumor.

Grassgreen said the Vegas show cancellations left Braxton, 43, saddled with debts from which she could not recover.

Comments

Kontum1972 4 years, 2 months ago

hmmmmm...moral of the story....and she should of learned this the first time....do not live beyond your means.....u reap what u sow.....

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