TONI BRAXTON ESCAPES $16 MILLION PAYMENT TO FORMER LABEL

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Toni Braxton filed for bankruptcy for the second time in 2010 after racking up a debt in the $10-50 million range, owing her record label, a slew of law firms, and shops such as Neiman Marcus and Tiffany and Co. Today we’ve learned that fortunately for her she does not have to pay any of that money back, according to her trustee.

Braxton – who has knowingly battled lupus for years- claimed that her health problems resulted in her missing a series of shows in Las Vegas and caused her debt to reach somewhere in the millions. The case was left pending for years, until the trustee presiding over the case filed on May 4th that he “attempted to sell off the singer’s assets and pay back the majority of her creditors” by all means.

The judge ended up siding with Braxton in some respects, granting her the right not to pay back the $16 million she owed to her label, over a million she owed to Wells Fargo, and her debts to the IRS and taxes she owed her town which totaled over $400,000. Now her trustee requests that the judge close Toni Braxton’s bankruptcy case indefinitely. The court documents can be viewed here.

 

 

Source:Vladtv.comtoni_braxton_jazz_in_the_gardens_lineup_2015_miami

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