Suge Knight


Suge Knight, the music mogul and former CEO of Death Row Records, filed for bankruptcy in 2006 in a bid to protect his assets. Knight, whose real name is Marion Hugh Knight Jr., was formerly known for his success and influence in the hip-hop business. The bankruptcy filing came after years of legal troubles and financial difficulties for Knight which only got worse after he filed. Knight was once a powerful figure in the music industry. He co-founded Death Row Records in the early 1990s,…

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LaToya Jackson


In a surprising turn of events at the time, LaToya Jackson, the famous singer and member of the Jackson family, filed for chapter 11 bankruptcy in 1995. The news left many of her fans and followers in shock and disbelief. According to reports, LaToya Jackson owed more than $300,000 in debt, including unpaid taxes, credit card bills, and other personal expenses.This news was particularly shocking given LaToya Jackson’s successful career in the entertainment industry. She had released several successful albums and appeared on various television…

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Alex Jones


Controversial radio host and conspiracy theorist Alex Jones has filed for chapter 11 bankruptcy. Jones, who is known for his extreme views and conspiracy theories on topics such as the 9/11 attacks and the Sandy Hook shooting, has been facing numerous lawsuits in recent years. These lawsuits have led to millions of dollars in legal fees and settlements, which have taken a toll on Jones and his media empire. In his bankruptcy filing, Jones listed liabilities of between $1 million and $10 million, and assets…

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Mike Tyson


Mike Tyson, the former heavyweight boxing champion known for his raw power and flamboyant personality, filed for bankruptcy in 2003. The announcement marked a significant reversal of fortune for the one-time boxing great, who at the height of his career was considered one of the wealthiest athletes in the world. According to court documents, Tyson’s debts range from $10 million to $50 million, while his assets are worth less than $50,000. At one time, the boxer boasted a net worth of $400 million. One of…

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Kim Basinger


Kim Basinger, the gorgeous actress and former model, created a wave of shock in the entertainment industry when she filed for bankruptcy in 1993. Several factors contributed to her financial troubles. The most significant of these was a lawsuit she faced as a result of backing out of a controversial film project. In 1989, Main Line Pictures offered her the lead role in “Boxing Helena,” but she eventually withdrew, and Main Line sued her leading tothe court ordering her to pay $8.1 million in damages.…

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Brooks Brothers


In July, 2020, Brooks Brothers, the iconic American clothier established in 1818, announced that it filed for bankruptcy. This marked another significant blow to the retail industry, which has been struggling in recent years due to the rise of e-commerce and the COVID-19 pandemic. The company, known for its high-quality suits and traditional preppy style, has been a fixture in American fashion for over two centuries. However, like many brick-and-mortar retailers, Brooks Brothers has faced significant challenges in adapting to the changing retail landscape. The…

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The Boy Scouts of America


The Boy Scouts of America, an organization with a long-standing history dedicated to providing educational programs for young people, filed for bankruptcy in February 2020. This announcement sent shock waves throughout the community and sparked debate about the organization’s financial viability. One of the primary causes of the Boy Scouts’ financial struggles was the large number of sexual abuse lawsuits that were filed against the organization. These lawsuits allege that scout leaders, volunteers, and staff members abused young scouts for decades. The organization has faced…

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Lil Kim


Lil’ Kim, the legendary rapper known for her iconic style and groundbreaking music, filed for chapter 13 bankruptcy in 2018. The news came as a surprise to many of the artist’s fans, who have long admired her success and influence in both the music and fashion industries. According to court documents, Lil’ Kim, whose real name is Kimberly Denise Jones, had assets worth less than $50,000 and debts ranging from $1 million to $10 million. The rapper, who first burst onto the scene in the…

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Donald Trump


Although Donald Trump, the 45th President of the United States, never filed personal bankruptcy, companies that he owns, or controls have filed chapter 11 proceedings six times. In chapter 11, the owners of companies are permitted to continue operating their businesses while cancelling much of their debt. A bankruptcy judge must approve a repayment plan, but many creditors [including smaller local companies that provided the labor and materials to build properties] and even equity owners, often must absorb significant losses under approved plans. Amid great…

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David Crosby


David Crosby, the legendary singer/songwriter and founding member of both The Byrds and Crosby, Stills & Nash, was a hero of the anti-war and counterculture movements in the 60s and 70s. With Roger McGuinn, Gene Clark, Chris Hillman and other members, the Byrds pioneered folk rock in the mid-60s with hits like “Mr. Tambourine Man” and “Turn, Turn, Turn” and “Eight Miles High”. He also produced Joni Mitchell’s first folk album and had a romantic relationship with her before she went on to become a…

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