Belfast Telegraph

Wednesday 17 September 2014

Toni Braxton files for bankruptcy

US singer Toni Braxton has filed for bankruptcy for the second time. (AP)

Toni Braxton has filed for bankruptcy for the second time, citing her heart condition as a major factor in her money woes.

Her lawyer, Debra Grassgreen, said in a statement that the decision came after months of trying to work out deals with creditors.

Court records show that Braxton filed for bankruptcy in Los Angeles on September 30.

The type of bankruptcy she filed could result in the sale of some of her assets to pay off debts listed in court records as ranging between 10 million dollars (£6.3 million) and 50 million dollars (£31.5 million)

Braxton's filing estimates her assets are worth up to 10 million (£6.3 million).

The six-time Grammy winner was forced to cancel a series of shows in Las Vegas in 2008 after being diagnosed with microvascular angina, a heart condition.

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Your Horoscopes by Russell Grant

Virgo:

Your partner may be irresponsible with money and you're tired of paying the price for it. Keeping separate financial accounts may be the arrangement for the two of you. If your amour continues to accumulate debt without fear of the consequences, it may be time to part ways. You're a practical person who yearns for financial security. Putting money into a savings account gives you the freedom to travel, write and study. Don't be ashamed of your needs; they encompass your personality.More