andPOP » Bankrupt

Lady Gaga Costumes Caused her to Go Bankrupt

Samantha Lui — Thu, 02 Jun 2011 01:25:38 +0000

Posted on andPOP:

Looks like Lady Gaga’s crazy costumes are costing her more than just a lot of attention.

Gaga, who has gained millions with her multiple number one singles, went bankrupt after her 2009 Monster Ball Tour.

The tour, comprised of 200 shows over an 18-month period, ended in April 2011 and grossed nearly $200 million.

However, the show’s revenue was clearly not enough to cover the cost of Gaga’s extravagant costumes.

In an interview with the Financial Times, the pop star confessed her financial problems.

“I remember I called everybody and said, ‘Why is everyone saying I have no money?” she said.

“This is ridiculous, I have five No. 1 singles.’” Their reply? “Well, you’re $3 million in debt.”

Well, seeing with the recent release of Gaga’s new Born This Way album has outsold the UK top 10 charts, the flamboyant star probably won’t have a lot financial difficulties in the near future!

…That is of course if she goes even bigger on her costumes for her next tour!!

Lady Gaga Claims She Went ‘Bankrupt’ During Monster Ball Tour

Christian Allaire — Tue, 31 May 2011 14:44:31 +0000

Posted on andPOP:

Lady Gaga claims she went bankrupt during her ‘Monster Ball’ world tour, reports CTV.

With her tour earning an estimated $125 million and sold out tickets being the norm at every show, one would think Gaga was racking in the dough, right? Wrong.

Despite the success of the tour, Gaga claims the production of the show, from her couture costumes to many backup dancers and set design, caused her to actually spend more money than she was earning.

She told the ‘Financial Times’ newspaper: “I put everything in the show, and I actually went bankrupt after the first extension of the ‘Monster Ball’. And it was funny because I didn’t know! And I remember I called everybody and said, ‘Why is everyone saying I have no money? This is ridiculous, I have five number one singles’ — and they said, ‘Well, you’re $3 million in debt.’ ”

That’s too funny, but props to her for not compromising on the integrity of her show. If Gaga wants something, she’ll get it.

Gaga does admit to spending her hard earned cash, though, but not on who you think. The ‘Born This Way’ hit maker claims the only real riches she’s spent is for her parents.

“The only big things I’ve purchased are my dad’s heart valve and a Rolls-Royce for my parents, for their anniversary. And that was only because my dad had a Lady Gaga licence plate on our old car and it was making me crazy because he was getting followed everywhere, so I bought him a new car.”

I would really love to meet her parents, I think that would be an interesting interview. I couldn’t even imagine saying ‘yep, Lady Gaga is my daughter.’ But if she bought me a Rolls-Royce, I’m sure that wouldn’t be too difficult.

Toni Braxton Files for Bankruptcy

andPOP Staff — Thu, 07 Oct 2010 14:00:30 +0000

Posted on andPOP:

What do these people do with all their money? Singer Toni Braxton has filed for bankruptcy in California, which is amazing considering she has sold over 40 million albums!

TMZ reports she owes anywhere in between $10 Million and $50 Million in unpaid debts. Some of the creditors include:

– AT&T
– The Four Seasons Hotels
– Cedars-Sinai Medical Center
– Various medical bills
– DirecTV
– Neiman Marcus
– The William Morris Agency
– Tiffany & Co.
– Orkin Pest Control
– The Internal Revenue Service
– BMW Financial Services
– ADT Security
– American Express
– Flamingo Las Vegas
– Mesa Air Conditioning
– Nevada Power Company
– Screen Actors Guild
– The Westin
– Wells Fargo Bank

Braxton is no stranger to bankruptcy, having also filed for it in 1998. We guess she still hasn’t learned her lesson!

Real Housewives of New Jersey Star Accused of Fraud

Megan MacKay — Mon, 06 Sep 2010 19:30:25 +0000

Posted on andPOP:

Teresa Giudice and husband Joe were already having some financial problems, but it appears that the Real Housewives star and her husband could be facing some heftier charges due to fraudulent information in their bankruptcy petition.

Radar Online reports that the couple has been accused of hiding some big ticket assets from the court, including bank accounts, property, vehicles, and a $250,000 payout from Teresa’s book, “Skinny Italian.”

The petition’s overseer, US Trustee Roberta A. DeAngelis, filed an official complaint last week stating that the couple’s claim was riddled with “falsehoods” and included information that they knew was “not true and correct.”

It’s alleged that the Giudicesalso falsified income tax returns to maximize the impact of their filing.

DeAngelis has requested that Judge Morris Stern deny the couple’s chapter 7 bankruptcy claim due to these “false sworn testimonies.”

Uh oh! How are you going to talk your way out of this one, Teresa? Maybe Bravo will save you?

Danny Masterson of ‘The 70′s Show’ Bankrupt?

andPOP Staff — Sat, 10 Jul 2010 14:54:53 +0000

Posted on andPOP:

Danny Masterson, who played Steven Hyde on “The 70′s Show,” maybe in some financial trouble.

PerezHilton reports Masterson’s limited liability company filed for bankruptcy last month in Nevada. Apparently the TomatoBank is suing him for $2.9 million. He has taken a loan out for $3.2 million from the lender but has yet to pay the full amount back.

Danny’s lawyer argues there is a “legitimate dispute” between Danny and the bank, and that Danny has done nothing wrong.

Masterson took the loan out to develop condos as his new gig after acting is property development. You gotta give the guy credit for diversifying, and hopefully he has not gone over his head.

New ‘James Bond’ Cancelled

Sara Harowitz — Wed, 07 Jul 2010 13:03:08 +0000

Posted on andPOP:

Cancelled. James Cancelled.

The newest James Bond movie, James Bond 23, has officially been cancelled, Perez Hilton reports.

MGM Studios is going bankrupt and cannot afford to make the movie. It was to be directed by Sam Mendes and once again star Daniel Craig as the badass title role.

MGM is apparently looking for a new buyer to finance the film, but until then they will be canceling scheduled productions, or at the very least postponing them indefinitely. The Hobbit still appears to be on the go-ahead, though.

Bilbo sure dodged that bullet!

Kate Gosselin Speaks Out on Today

Vanessa Baker — Mon, 05 Oct 2009 20:22:36 +0000

Posted on andPOP:

Kate Gosselin of Jon and Kate Plus Eight appeared on Today, fighting back tears as she explained she can no longer pay her bills after her soon-to-be ex-husband, Jon, took $230,000 from their joint bank account, reports TMZ.

“You’ve left your children and their mother unable to pay for the roof over their head,” she said. “It’s unacceptable.”

Jon has claimed the children no longer want to do the reality show, but Kate said there was “wailing and sobbing” when she told them production had been stopped.

Kate’s lawyers are heading to court to demand Jon return the money.