Johnny Depp can’t seem to escape his financial problems and things apparently just got worse for the actor.
Depp’s former business managers filed an “action for judicial foreclosure” against him on Monday to force the sale of five properties he owns in Los Angeles, Deadline reported.
The Management Group filed the lawsuit in an effort to get repaid a $5 million loan the company alleges it lent the “Pirates of the Caribbean” star in December 2012 so he could pay a City National Bank loan.
“TMG agreed to come to the aid of its long-time client,” the complaint, filed in LA Superior Court Monday, stated. “The idea behind this arrangement, which was designed to save Depp from a public and devastating financial collapse, was that Depp would pay TMG what TMG was required to pay CNB under the loan.”
Depp’s attorney, Adam Waldman, told People the move was an “effort to intimidate Depp into dropping his lawsuit” and said the actor had no plans to sell his homes.
The Oscar-nominated actor sued TMG in a $25 million fraud suit earlier this year and accused the group of trying to foreclose on his main residence. The company counter-sued, accusing the 54 year-old actor of mismanaging millions of dollars and living an extravagant lifestyle. Depp and TMG terminated their 17-year relationship in March.
The multiple foreclosure attempt comes just months after the actor, already in the spotlight from his public mudslinging with TMG, made headlines when he appeared to joke about assassinating the president of the United States.
He later apologized for the comments.
Depp’s former managers claim the actor “refused to pay any interest or principal on the loan,” with “well over $4.4 million” due on the note, the more than 10-page exhibits filing stated. The five homes were used as “collateral for the loan, and since Depp has stopped making payments, they want to sell the houses,” People reported.
“At least at the time, Depp and his sister, personal manager, and the president of his production company, (Elisa Christi) Dembrowski, were very grateful to TMG for coming to Depp’s aid and helping him to avoid a public financial collapse,” the complaint stated.
“Although Depp is refusing to pay his debts, he does not and cannot dispute that he received the full benefits of the TMG/Depp Note by avoiding a public calamity in 2012,” the document asserted. “Nor can he dispute that TMG gained nothing from the transactions and instead, became indebted to CNB for $5 million.”
The filing further concluded, “However, in Depp’s self-centered world, ‘no good deed goes unpunished.’”
Depp’s lawsuit against TMG in February asserted that the actor was “forced to dispose of significant assets to pay for TMG’s self-dealing and gross misconduct,” accusing the company of using Depp’s finances “as their own, available to either TMG or third parties to draw upon as desired.”
Depp’s attorney responded to questions about whether TMG would be able to take away the homes in question in the new lawsuit.
“Of course not, and they know it. We will move for sanctions for this latest publicity stunt,” Waldman said.
Depp is starring in the new film, “Murder on the Orient Express” along with Penelope Cruz, Willem Dafoe, Josh Gad, Michelle Pfeiffer and Kenneth Branagh. The movie comes out on November 10 while the trial on the initial Depp and TMG legal battle is set to start in August 2018, according to Deadline.
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Originally from New York, Powers graduated from New York University and eventually made her way to sunny South Florida where she has been writing for the BizPacReview team since 2015.
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