More than 10 years after a dispute over her recording contract led Toni Braxton, 43, to file for bankruptcy, the singer has returned to bankruptcy court once again.
In her Chapter 7 bankruptcy petition, filed in Los Angeles on September 30, Braxton reported assets in the range of $1 million to $10 million and debts in the range of $10 million to $50 million. Under Chapter 7, an independent official will be appointed to round up her assets, sell them off and distribute the proceeds to her creditors.
Braxton has quite a few creditors, such as the Flamingo Las Vegas hotel and casino, the Four Seasons Hotel in Washington, D.C., Neiman Marcus, the Screen Actors Guild, RCA Music Group and Tiffany & Co..
Braxton also had to file bankruptcy in 1998 because of money mismanagement. In that case, the I.R.S. (Internal Revenue Service) put a lien against her for $3.9 million. Even two of her Grammy’s were priced to sell to pay off her creditors.
Braxton tweeted regarding this, “It’s my birthday… Not a happy birthday, but it’s my birthday :-(”
Yes, her birthday is October 7, 1967. Not really a happy birthday…