Nicolas Cage sued for defaulting on loan

The Soldier Girl · Star

RE: Nicolas Cage sued for defaulting on loan

Corelli · 2:17 PM, 10/12/09

The thing is when you're in the public eye like Nic is they report every little detail.
It's a shame but it's a sign of the times...people like to read about celebrities ups
and downs. hmm

Newspapers (and I use the word news loosely) like The Sun don't help. hmm

alienplayground · Junior Member

The Soldier Girl wrote:

It happens. No one is perfect, nor should they have their private problems aired worldwide...famous or not.

I could not have said it better Soldier Girl. Brava!

Loew · Superstar

Corelli wrote:

Someone in Nics position won't manage his own finances...he'll have accountants so I doubt very much it's his fault.

I bet it will all blow over just like his tax problem.

I agree.
It's sad that this stuff is published in the news -_- that is just unnecessary

Corelli · 4:17 PM, 10/08/09

I wouldn't like to trust my finances to other people. disbelief

Must be weird having so much money you don't know exactly how much is coming in and going out. hmm

scorpiolady · Superstar

Corelli wrote:

Someone in Nics position won't manage his own finances...he'll have accountants so I doubt very much it's his fault.

I bet it will all blow over just like his tax problem.

That's so true, and these accountants are not always up to scratch, some tend to do a bit of fiddling on the side, thinking that their clients won't notice, and when something gets found out it's the clients that are dealt with the blow, just like Nic's case hmm

Corelli · 11:41 AM, 10/08/09

Someone in Nics position won't manage his own finances...he'll have accountants so I doubt very much it's his fault. smile

I bet it will all blow over just like his tax problem. biggrin

scorpiolady · Superstar

I agree

, it happens all the time, anyone can make that mistake, I have many times

The Soldier Girl · Star

It happens. No one is perfect, nor should they have their private problems aired worldwide...famous or not.

Corelli · 12:15 PM, 10/05/09

http://www.digitalspy.co.uk/showbiz/a180327/nicolas-cage-sued-for-defaulting-on-loan.html

Nicolas Cage sued for defaulting on loan

Saturday, October 3 2009, 23:56 BST

By Catriona Wightman

Nicolas Cage is facing a lawsuit after allegedly failing to repay a loan.

E! Online reports that the actor is being sued for breach of contract after defaulting on the $2m (£1,255,500) loan.

Court documents state that East West Bank extended Cage a $2m line of revolving credit in August 2007, which would mature a year later.

He asked for a three-month extension, but defaulted on the loan in November 2008. He then entered into an agreement which would see him pay back $1,953,732.94 (£1,226,455) by January 2011.

However, Cage allegedly stopped making his monthly payments of $11,590.82 (£7,275) in May.

He also missed the October 1 deadline to pay $100,000 (£62,775) in outstanding principal sums and interest. The lawsuit was filed a day later.

Cage's spokesperson did not reply to a request for comment.