COUNTRY SINGER MORGAN FILES FOR BANKRUPTCY
Country singer LORRIE MORGAN has filed for bankruptcy after incurring over $1 million (£639,959) in business-related debts.
Morgan, 49, filed for Chapter 7 bankruptcy in a Nashville, Tennessee federal court on Wednesday (22Oct08), estimating her liabilities between $1 million (£639,959) and $10 million (£6.4 million).
The bankruptcy filing listed Morgan’s assets between $500,000 (£319,980) and $1 million (£639,959).
In an official statement about her finances, the Trainwreck of Emotion singer calls the bankruptcy "an unfortunate yet necessary part of the restructuring of my business".
Morgan withdrew a previous bankruptcy petition after filing for Chapter 11 bankruptcy in 1992, listing more than $846,000 (£541,405) in debts before paying off her creditors.
Movie & Entertainment News provided by World Entertainment News Network (www.wenn.com)
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