Earl Simmons, the rapper known as DMX, filed for Chapter 11 reorganization in July, but he’s not getting much relief -- and it’s not the first time. The performer tried filing for bankruptcy in 2009, but that case was dismissed by the bankruptcy court after it found DMX had “unreasonably delayed” the case to the detriment of his creditors.
Rapper DMX, whose real name is Earl Simmons, is apparently running pretty low on cash. Once among the top-selling hip-hop artists in history, the performer filed for Chapter 11 bankruptcy in July. He had apparently built up over a million in alimony debt, owing more than over $450,000 in mortgage debt on a New York property, and another $479,000 to unsecured creditors.
David Adkins, the comedian known as Sinbad, filed for Chapter 13 bankruptcy in May, claiming $11 million in debt, the vast majority of which is tax debt. According to documents cited by AccountingWEB, the 56-year-old performer owes over $8 million to the IRS and another $2.3 million to California taxing authorities. He also reportedly owes $32,000 to Bank of America and some $375,000 to American Express.
Rapper DMX, whose real name is Earl Simmons, filed for Chapter 11 bankruptcy in New York last week, just days after being arrested in South Carolina on alleged drunk driving and driving without a license. DMX is a resident of South Carolina, but it seems the Bankruptcy Court in Manhattan was the best option for the performer, who hopes to use Chapter 11 to resolve perhaps $10 million in personal and business debts.
As you may have heard, legendary singer Dionne Warwick filed for Chapter 7 bankruptcy in March, claiming only about $25,000 in assets but owing more than $10 million in California and IRS tax debt. According to reports, nearly $7 million of that tax debt is owed to the IRS, and the performer's lawyer says that mismanagement by Warwick's former business manager is largely to blame for that.
In January Casey Anthony, the woman who was charged and then acquitted of killing her 2-year-old child, filed for Chapter 7 bankruptcy. She owes some $500,000 in legal fees, along with other debts that bring her total liabilities to about $792,000. She claims $1,100 in assets.