Toni Braxton files for bankruptcy in the US
Singer Toni Braxton has filed for bankruptcy in the US courts with debts of between $10m (£6.3m) and $50m
Toni Braxton
Grammy winning singer-songwriter Toni Braxton has filed for bankruptcy in the
US courts for the second time, having previously filed in 1998.
The 43 year old singer with hits such as Un-Break My Heart, has revealed she
is in millions of dollars worth of debt, the
BBC
reports.
Court documents show the singer owes between $10m (£6.3m) and $50m.
“After months of trying to work out an acceptable arrangement with her
principal creditors, she determined that the only way to assure that she could
meet her tax obligations and provide for her two small children was to commence
these bankruptcy cases,” said Braxton’s lawyer Debra Grassgreen.
In 2008 Braxton pulled out of a series of Las Vegas shows due to chest pains.
She is hoping to sell her assets to pay off her tax debts.
Further reading:
Football
star Colin Hendry declared bankrupt
Personal
insolvency stats take first drop since 2008
