Wednesday, March 27, 2013

Dionne Warwick Files For Bankruptcy, Again

Dionne Warwick filed Chapter 7 bankruptcy Thursday, claiming she owes more than $10 million in back taxes and has only $10 left at the end of each month after paying expenses. The 72-year-old five-time Grammy Award winner, who lives in a 3,200-square-foot home in South Orange, NJ and won awards for songs like "I'll Never Fall in Love Again," "That's What Friends are For" and "Raindrops Keep Falling on My Head," pays $5,000 a month for housekeeping, $4,000 for a personal assistant and another $11,940 in other monthly expenses. According to the bankruptcy petition, Dionne owes nine years of back taxes, totaling $7 million, to the federal government and $3 million to the state of California. Kevin Sasaki, Dionne's publicist, said in a statement that "due to several consecutive years of negligent and gross financial mismanagement" she realized the "current necessity to file personal bankruptcy." Sounds like a page out of Toni Braxton's playbook. He said Dionne tried to work out payment plans to the IRS and the California Franchise Tax Board for taxes owed, but the offers were rejected.

Here's a breakdown of her financial situation:

Looks like she needs to cut back like all of us or ask her famous cousin's daughter for a bail out. It's really hard to feel sympathetic for someone who makes more than $20,000 per month at best. This is the second time she's file for bankruptcy. Back in 1993, she filed for Chapter 11 protection, but that case was resolved after she surrendered three cars including her BMW. BTW, whatever happened to the money she received from suing the producers of the Broadway musical "Baby It's You" in 2011 for "cashing in on [her] stories and successes, while using [her] names, likenesses and biographical information without [her] consent and in violation of the law?" Or did that case get thrown out? We're too disinterested to care, so if you find out what happened, let us know.

source: Star-Ledger
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