Showing posts with label Bankrupt. Show all posts
Showing posts with label Bankrupt. Show all posts

Friday, November 19, 2010

Sonja Morgan Files for Bankruptcy: John Travolta to Blame for ‘Real Housewives of New York’ Star’s $19.8 Million Debt, $13.5 Million in Assets

Sonja Morgan of Real Housewives of New York has filed for bankruptcy. Sonja Morgan also claims John Travolta is the reason she only has $13.5 Million in assets while having $19.8 million in debt. NEW YORK - OCTOBER 01: TV personality Sonja Morgan attends the opening night of 'Freckleface Strawberry The Musical' at New World Stages on October 1, 2010 in New York City. (Photo by Bryan Bedder/Getty Images)Sonja may soon find herself just a wife without a house! But the question everyone is asking is how does John Travolta play into Morgan’s money troubles?

The story starts off with a movie called Flash Forward to Bang Time which was to be made in conjuncture with Sonja Morgan’s production company, Sonja Productions and Hannible Pictures.

John Travolta was supposed to star in Flash Forward to Bang Time but when his many requests got out of hand, Sonja Productions had to halt production on the movie. Morgan was then sued by Hannible Pictures for breach of contract and they eventually won $7 million. Sonja Morgan stated in her bankruptcy document that if not for John Travolta’s "various conditions" she wouldn’t be bankrupt. But is it really his fault?
John Travolta Signed Photo JSA Certified 
Sure it sounds terrible that Sonja Morgan is bankrupt but perhaps she should have anticipated the major wacky demands of Hollywood’s famous actors. It’s great Sonja Morgan had her own production company but it really seems like she got in over her head with only herself to blame. $13.5 million in assets is a huge amount but when we consider how much making a movie costs and how much major actors such as John Travolta would cost, well, all of a sudden that $13.5 million starts to look pretty puny.

Who do you think is to blame for Sonja Morgan’s bankruptcy? Sonja Morgan or John Travolta?

Saturday, November 06, 2010

Heidi Montag, Spencer Pratt Bankrupt - Owe $2 Million in Taxes - Spent $10 Million on Crap - 'We don't want sympathy,' Pratt Declares

Heidi Montag and Spencer Pratt are reportedly bankrupt! Montag and Pratt supposedly owe $2 million in taxes and Squandered $10 million on crystals, cars and plastic surgery! However, Pratt has declared, "We don't want sympathy." Well, if you don't want sympathy...why are you telling everybody?

How to Be Famous: Our Guide to Looking the Part, Playing the Press, and Becoming a Tabloid FixtureAccording to reports, the couple also admitted that their divorce filings earlier this year was all a sham! It's doubtful if anyone believe them when they had talked about divorcing anyway. If Heidi Montag and Spencer Pratt were willing to go as far as to say they were splitting up then who's to say, this whole bankruptcy deal isn't another sham to keep themselves in the spotlight?

However, this time, it may be the real deal for the couple! After spending money on six cars, tons of plastic surgery, designer clothes and a multimillion dollar home, it's safe to say they probably did run out of cash! Speidi, money doesn't grow on trees and you guys should have known that it wouldn't last forever!

Here's what Pratt told Life & Style magazine:
"We were immature, worrying too much about the famous part instead of the actual business part. In hindsight, we shouldn't have spent any of our money. We should have been low-key and saved."

Part of their reason for spending money like it was Christmas everyday had to do with the fact that Montag and Pratt thought "The Hills" would last forever! Apparently, the couple believed themselves to be so popular that the public would lap up any and all sordid news from them. Pratt even went as far as to say he thought "The Hills" was like "Beverly Hills 90210:"

"We thought The Hills was going to be like 90210 and we'd have another five to 10 years ... Our cast was a bit boring and snoozeworthy ... No wonder we got cancelled ... My parents are my lifeline."

His parents have become their lifeline? Aren't these parents the same parents who were so appalled by their antics that they wanted nothing to do with the couple? Interestingly, Pratt says they've already talked to a bankruptcy lawyer  and he's looking into getting unemployment benefits!

Looks like Pratt is back to doing all the talking while Montag sits next to him like a bobble head! At least her head still moves unlike the rest of her face. Perhaps she shouldn't have spent all that money on turning herself into the ugly sister of Barbie and they might still have some cash left.