Friday, May 29, 2009

Scott Storch Files For Bankruptcy

Just when it seemed Scott Storch's luck would be turning around the former top producer has filed for bankruptcy.
According to TMZ, Storch filed paperwork in U.S. Bankruptcy Court indicating that he owes $58,077.37 to over a dozen creditors in 7 states.

Although more than the average American salary, Storch's debt is minor in comparison to his estimated $70 million net worth in 2006.

Storch was once one of the industry's most sought after producers, having had a hand in music for Britney Spears, Christina Aguilera, and Chris Brown.

As previously reported by Yo! Raps, Storch was also recently ordered to pay a former business partner $750,000.

He is also reportedly having difficulty paying child support and is facing the potential foreclosure of his $10.5 millon Miami mansion.

At press time, he had yet to issue any public comment on his financial troubles.

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