Palazzo bookstore drawn into Nicolas Cage civil suit

Corelli · 12:28 PM, 04/19/10

RE: Bookstore Drawn Into Nic Cage Law Suit

Nick 4 Life · Senior Member

Corelli wrote:
The trouble is once it's common knowledge that someone is in financial difficulties
companies that are owed money all come out of the woodwork because they know
in any case of bankruptcy it's first come, first served after the IRS!

Hmmm.... interesting points Corelli although, as far as we know, Nic hasn't filed bankruptcy yet and it's not clear if Nic owes this bookstore any money.

Nic's lawsuit against Samuel Levin basically accuses Levin of not telling Nic that he was in no financial shape to make the purchases he did such as those castles, mansions, cars, jet, yachts, etc.

Levin is basically saying Nic knew exactly what his financial situation was because he briefed Nic on it and warned Nic's lawyers about his spending, but Nic didn't care and still pushed forward with authorizing purchases.

Apparently this bookstore is holding some type of evidence to Levin's advantage that may prove their accusations against Nic.

Corelli · 3:45 PM, 04/16/10

The trouble is once it's common knowledge that someone is in financial difficulties
companies that are owed money all come out of the woodwork because they know
in any case of bankruptcy it's first come, first served after the IRS! cry

Nick 4 Life · Senior Member

Palazzo bookstore drawn into Nicolas Cage civil suit

By Steve Kanigher (contact)

Thursday, April 15, 2010 | 4:15 p.m.

A Las Vegas bookstore is being drawn into a high-profile civil lawsuit that Oscar-winning actor Nicolas Cage filed in October in Southern California against former business manager Samuel Levin.

Attorneys for Levin Wednesday asked the Clark County District Court to subpoena documents and records in the possession of Bauman Rare Books, which is located at The Shoppes at the Palazzo.

"I will not comment about this subpoena other than to say it's relevant to our case," Levin attorney Randall Dean told the Sun today.

A secretary for bookstore owners David and Natalie Bauman in Philadelphia also declined comment, stating that "all of our client records are confidential."

Nicolas Cage Home Foreclosure Sale

Cage created plenty of Hollywood-style buzz when he sued Levin for $20 million in Los Angeles Superior Court, claiming that the manager lined his own pockets while placing the actor on a course of financial ruin.

Levin responded by charging that Cage lived a lifestyle that financially was way over his head, including the purchase of multiple palatial estates and yachts.

The Sun reported in January that a Las Vegas real estate company sold a foreclosed, bank-owned home at 5100 Spanish Heights Drive for about $3.5 million less than the price Cage paid for the property in 2006. He had purchased the 14,300-square-foot home for $8.5 million and it was sold for $4.95 million.

Cage reportedly owes the IRS more than $6.6 million in back taxes.