Apparently, Braxton made a deal with the trustee to buy back some of the personal property she lost as a result of filing for bankruptcy. The deal was that she would pay $5,000 a month for 15 months with the last payment being $50,000. Braxton made every last payment…...except for that last one.
The other part of the case hanging over Braxton's head was the issue of $754,000 she made for performances she had overseas. These performances occurred AFTER Braxton filed for bankruptcy, so she felt that she was legally entitled to keep the money she made from these performances. The trustee, however, argued that since Braxton was technically paid before the bankruptcy filing, due to the money being put in escrow before the actual shows, she should be ordered to hand it over.
This week, Braxton and the trustee finally came to an agreement. Braxton settled on paying the $50,000 she owed for the property and $100,000 from the performances. They also came to an agreement that she could buy back the copyright on an abundance of her songs for a meager $20,000. On July 15th they will go to auction and they will be hers if she doesn’t get outbid. That must be a slap in the face to have to bid on your own work, but I guess that’s the price you pay for excessive spending on linens and kitchen appliances.
It seems this bankruptcy case is finally over. That is, if a judge signs off on it. Let’s see how long it takes Braxton to file another one since there isn’t a Household Items Anonymous.
BLUE MITZI
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