Country Singer Morgan Files For Bankruptcy
Country singer Lorrie Morgan has filed for bankruptcy after incurring over $1 million (GBP639,959) 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 (GBP639,959) and $10 million (GBP6.4 million).
The bankruptcy filing listed Morgan's assets between $500,000 (GBP319,980) and $1 million (GBP639,959).
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 (GBP541,405) in debts before paying off her creditors.