Famous Bankruptcies Of 2013

The city of Detroit filed for bankruptcy in 2013, but it was hardly the only high-profile filing of the year. Numerous entertainers and public figures filed in 2013, with their proverbial dirty laundry becoming fodder for water cooler discussions and countless publications. Here are some of the bankruptcy filings that made the biggest news in 2013:
Sinbad

The comedian and actor, whose given name is David Adkins, filed for Chapter 7 bankruptcy protection in April of last year. While it was reported that the filing was his second in four years, Sinbad’s 2009 Chapter 7 petition was dismissed by a judge due to missing paperwork. For his second filing the comedian was granted a discharge, which detailed total liabilities of $10.099 million and assets totaling $131,126. Among the largest debts was $8.26 million owed to the IRS.
Casey Anthony
While not exactly a celebrity, Anthony filed for Chapter 7 bankruptcy in January 2013. Her petition cited many debts from her trial, with a judge granting a discharge in December 2013. Anthony’s assets totaled $1,084, and her liabilities $792,119. Among her largest debts were $500,000 owed to her attorney, and $145,660 to the Orange County (Florida) Sheriff’s Office for a “judgment for investigative fees and costs.”
Kelly Rutherford
Following a messy divorce, the Gossip Girl and Melrose Place star filed for Chapter 7 bankruptcy in May of last year. A mother to two young children, Rutherford listed average monthly expenses totaling $1,760 and an average monthly income of a little more than $1,200. She was granted a discharge; her total liabilities were $2.02 million.
DMX
The rapper, whose real name is Earl Simmons, filed for Chapter 11 bankruptcy in the summer of 2013. Opting for Chapter 11 so he could “confirm a plan of reorganization,” his petition was later dismissed. The entertainer’s assets were reported as between $0 and $50,00, with liabilities between $1 and $10 million.
Girls Gone Wild Franchise
GGW Brands LLC filed for bankruptcy protection in February of 2013, though every debt listed in the petition was disputed. Infamous GGW founder Joe Francis filed for Chapter 11 bankruptcy following numerous legal judgments against him. Estimated liabilities were between $10 million and $50 million, with assets between $0 and $50,000. Among the largest debts was the disputed $10.3 million owned to the Wynn Las Vegas resort.
Bankruptcy is something that can affect everyone, regardless of income and status. Did you hear about any of these cases in the past year? What were your thoughts? Share them in comments section! If you are interested in a knowledgeable Las Vegas bankruptcy attorney, contact DeLuca and Associates today.
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