45 year old Toni Braxton has a lot of problems going on in her life. Apart from her recent divorce from her husband of 12 years, she is now broke after filing for bankruptcy not once, but twice. As if that’s not enough, Toni Braxton has lost the copyright to 27 of her favorite songs.
She was given the opportunity to purchase the copyright of some of her best hits from her music catalog for $20,000 when they were put up for sale on July 15. But was unsuccessful and was outbid by another buyer, Ross M. Klein who doubled the low offer Braxton made and now he now owns the rights and can profit from hits like How Many Ways and Always.
Toni made a deal with the bankruptcy court to resolve her financial woes which included settling a whopping $150,000 debt last month.
Luckily, she still owns the rights to her most famous hit Unbreak My Heart, which was not included in the auction – for now.
Toni had previously filed for bankruptcy in 1998 for debts of $3.9 million and has legal trouble this year after her debtors tried to claim $754,000 in fees she made for International performances.
The singer and her trustee finally came to an agreement this week and agreed to pay the $50,000 she owed for the property and $100,000 from the performances.