Toni Braxton’s Bankruptcy Reportedly Caused Atlantic Records to Lose $16 Million


Toni Braxton owed Atlantic Records $16 million, but her former record label won’t be getting a cent out of her due to her second bankruptcy case.

Back in 2010, she claimed she owed money in the $10 – $50 million range, but only had assets in the $1 – $10 million range.

According to, she said health problems led to her having to cancel a series of Las Vegas shows, which led to her racking up millions in debt.

She infamously filed for bankruptcy in 1996, and lost the battle with her record label. Now, her trustee sold off a bulk of her assets and she doesn’t owe her former record label.

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Source: EURWeb

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