Nationwide — Duane Martin and Tisha Campbell’s bankruptcy case has finally been closed, nearly 10 years after they first filed. The ex-couple had over $16 million in debts discharged, while $1.7 million was distributed to claimants, according to court documents.
According to the final report filed by the bankruptcy trustee on July 16, the sale of their home, business income, security deposits, and residuals generated more than $2 million. The couple also managed to clear most of their federal tax debt through the proceedings, as reported by InTouch Weekly.
Martin and Campbell initially filed for bankruptcy in January 2016, listing over $15 million in liabilities and just $313,000 in assets. Their monthly expenses reportedly exceeded their income by more than double.
The couple’s debts included millions owed to the City of Los Angeles and hundreds of thousands to various lenders. They also borrowed $1.4 million from actor Will Smith, a longtime friend of Martin’s. The trustee faced several disputes with the couple during the proceedings, but their debts were officially discharged later in 2016.
The two married in 1996 and have two sons, Ezekiel and Xen. Campbell filed for divorce in 2018 after 20 years of marriage, and the divorce was finalized in 2020. Both have moved forward with their lives since the divorce, with Campbell continuing her acting career in television and film.
Source: BlackNews.com
