BREAKING NEWS

EXCLUSIVE: Bank Sues Toni Braxton For Failing To Pay On 900k Loan

Oct. 5 2009, Published 10:00 a.m. ET

Link to FacebookShare to TwitterShare to Email

City National Bank is suing pop diva, Toni Braxton for breach of contract in regards to a $900k promissory note.

Toni Braxton Court Papers

According to court docs, Braxton “on or about November 20, 2007, for value received, Braxton made, executed and delivered to a CNB Promissory Note for $900,000.00." 

PHOTO: Toni Braxton On The Red Carpet At 2009 Divas

Toni Braxton encountered financial problems and the financial arrangement was reneogatied in February 2008. However, on April 1, 2009, Toni fell behind in payments.  The court docs state, "pursuant to the agreement, the outstanding balance on the agreement as of June 5, 2009, was $657,567.54."

MORE ON:
Breaking News
Article continues below advertisement

City National is seeking the $657k, and interest in excess of $44k.

Advertisement

DAILY. BREAKING. CELEBRITY NEWS. ALL FREE.

© Copyright 2023 Radar Media Group LLC. RADAR and RADARONLINE are registered trademarks. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Service, Privacy Policy and Cookies Policy. People may receive compensation for some links to products and services. Offers may be subject to change without notice.