Danny Masterson’s Company Files For Bankruptcy After Being Sued for $2.9 Million
(HMG) – Danny Masterson who famously starred in that 70’s Show, which ran for eight consecutive seasons, somehow finds himself in a bit of financial trouble. His Nevada based limited liability company filed for bankruptcy last month, according to RadarOnline. It seems Danny’s company took out a loan out for $3.2 million in 2007 and after several extensions on payment, the lender, TomatoBank, eventually sued for $2,807,531 as well as accrued interest of $58,314 and delinquent property taxes summing $45,723.
Danny’s lawyer says that there is a “legitimate dispute” against the claim and that it is not Danny’s fault, so they will fight in court. He also insists that the matter will be straightened out soon and that the condos Danny’s company intends to build will still see the light of day. Were in bankruptcy to reorganize and ultimately finish the project and sell it and pay creditors where creditors are due. It’s a bit hazy how they got to this point, but it sounds like Masterson’s company got behind schedule and way over budget on building the condos in Toluca Lake, California, and the lender got inpatient forcing the bankruptcy route.
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