Gary Busey Files for Bankruptcy
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ABC/RANDY HOLMES(LOS ANGELES) — Actor Gary Busey filed for Chapter 7 bankruptcy protection on Tuesday in California, and his publicist says the actor needs a fresh start, just like General Motors.
The actor, 67, filed for bankruptcy and indicated he has less than $50,000 in assets, TMZ reported, and between $500,000 and $1 million in various debts.
Among the creditors owed money by Busey are the IRS, various lawyers, UCLA Medical Center, Wells Fargo, and L.A. County Waterworks Districts.
TMZ reports Busey may also be in debt to a woman named Carla Loeffler, who sued Busey for allegedly attacking her at a Tulsa airport back in May.
Michael Conley, Busey’s publicist, provided a statement to ABC News:
“As with many great American institutions, i.e., General Motors, American Airlines, and others who have utilized the strategic business plan of bankruptcy, Gary’s filing is the final chapter in a process that began a few years ago of jettisoning the litter of past unfortunate choices, associations, circumstances, and events, to enable the start of a new and clear path toward peace, happiness, and success with his career and his wonderful new soulmate, Steffanie, and their son, Luke.”
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