Johnny Depp's long-running lawsuit with his former managers at TMG hasn't gone away and, if anything, it's only getting nastier.
Late last night, lawyers for TMG filed a motion for foreclosure against five properties owned by the embattled actor. The five properties, which are all in Los Angeles, would be sold to repay a loan of $5,000,000 which TMG claims it made on Johnny Depp's behalf. Depp himself filed a lawsuit back in January, claiming that TMG defrauded him to the tune of $25 million.
According to TMG's complaint, they argue that they "agreed to come to the aid of its long-time client" and that "(the) idea behind this arrangement, which was designed to save Depp from a public and devastating financial collapse, was that Depp would pay TMG what TMG was required to pay CNB (City National Bank) under the loan."
In a statement to People.com, Waldman said that TMG's foreclosure motion is merely an effort to "intimidate Mr. Depp into dropping his lawsuit."
A judge is set to rule on the foreclosure motion in the coming weeks.
Via People.com / Deadline
