While juggling her 62 zillion businesses (Alpine cross-country spiderwebbing underwater basket weaving and perfume making t-shirt club, anyone?!) and her 700 interns, Sonja Morgan is also dealing with her never-ending bankruptcy. Which seemingly will never end.
After liquidating (or having a trustee liquidate?) her wild-boar infested St. Tropez property, and attempting to sell her Colorado home, Sonja is now desperately trying to hang onto her NYC town home without selling it to satisfy her multi-million dollar judgement.
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Sonja’s main creditor is Hannibal Pictures, whom she was involved in a movie deal that fell through, and now owes $8.1 million (a $7 million dollar debt, plus accrued interest). Hannibal has proposed to the judge a plan to liquidate all of Sonja’s valuable assets – including her NYC home – so they can get their money before any of Sonja’s other creditors.
Sonja, of course, denounces this plan! After all, where would a Real Housewives Of New York star be without her NY home?!
Sonja has been accused of stalling in the repayment of creditors, and according to the latest round of court documents Sonja has again concocted a plan to delay paying back what she owes! Sonja proposed a plan that would allow her to keep her main residence and pay back a sizable percentage of what she owes.
If a judge approves Sonja’s proposed plan all her creditors will be paid 80% of what they are owed, which means 62% of her total debt. The remaining percentage of her debt, which totals $1.56 million will be slowly repaid over a period of ten years. And Sonja would not have to lose her home. (I mean, where would the interns go?!)
As for how she plans to ex off a huge chunk of debt immediately, Sonja revealed that she has $1 million in savings, still has to sell her highly-valued Colorado home, she earned $4.5 million in the sale of her French estate, and is owed a huge sum of money from ex-husband John Adams Morgan – the two exes are still battling in court over Sonja’s divorce settlement.
According to Radar Online (via court documents), Sonja is adamant that she must retain her NYC town home for her daughter’s sake – but what is the point if you’ve got leaking ceilings, a zillion repairs, and a hot mess of a situation you can’t afford to keep up? A judge has yet to rule on the proposal.
Hmmm…sounds like Sonja needs to face reality (pun intended!) and sell her house. I mean, just ask Teresa Giudice: a house is just a house, and there are plenty of amazing apartments in NYC!
PS – word on the street is that Bravo is demanding Sonja include her bankruptcy story in the upcoming season of RHONY!
TELL US – SHOULD SONJA JUST SELL HER HOME ALREADY?
[Photo Credit: JD/WENN.com]
