Tuesday, July 30, 2013

Toni Braxton Loses Copyright To 27 Of Her Songs In Bankruptcy Settlement

A recently single and broke Toni Braxton has lost the copyright to 27 of her favorite songs after being outbid during an auction of her back catalogue.

After filing for bankruptcy not once but twice, the 45-year old R& B singer struck a deal with the bankruptcy court to settle her bankruptcy case for approximately $150,000, spending $50,000 to reacquire personal belongings. She was also hoping to buy the rights to over two dozen of her songs through the deal. 

The six-time Grammy Award winner was given the opportunity to purchase the copyright of some of her best hits from her music catalog for $20,000 when they were put up for sale on July 15 but there was one major caveat — she could be outbid.
Unfortunately for Braxton who was unsuccessful in her bid to buy back ownership of some of her most famous hits, a man named Ross M. Klein doubled her bid of $20,000 and walked away with the copyrights to “How Many Ways,” “Always,” “You’re Making Me High,” and 24 others.

“Un-Break My Heart” which became the second biggest-selling single by a female artist in the United States in 1996, was not among the copyrights Braxton lost. 

She recently finalized her divorce from husband of 12 years, Keri Lewis. The split was amicable, Lewis is the father of her two sons, Denim, 11, and Diezel, 10 and they share custody of the children.

This is so sad! Can't imagine how she's feeling right now....

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