Friday, October 24, 2008

Lorrie Morgan Filed For Chapter 7 Bankruptcy

In this Nov. 15, 2005 file photo, country singer Lorrie Morgan arrives for the 39th Annual Country Music Association Awards in New York. (AP Photo/Stuart Ramson, file)

Country singer Lorrie Morgan has filed for bankruptcy for primarily business related debts, according to a court filing. Lorrie filed for Chapter 7 bankruptcy in federal court, listing her estimated liabilities between $1 million to $10 million. The bankruptcy filing showed her with assets of $500,000 to $1 million. The 49 year old singer, who lives in the Nashville suburb of Lebanon, released a statement calling the bankruptcy "an unfortunate yet necessary part of the restructuring of her business." Morgan lists her creditors as the Internal Revenue Service, banks, lawyers and others. Phone calls made by The Associated Press on Friday to Morgan's bankruptcy trustee and attorney weren't immediately returned.

In 1992, Lorrie said she repaid her creditors in full and withdrew a bankruptcy petition after filing for Chapter 11 bankruptcy, listing more than $846,000 in debts. Last year, Morgan filed for divorce from country singer Sammy Kershaw. Court records show she cited irreconcilable differences and asked the court to enforce a prenuptial agreement. Kershaw, who filed for bankruptcy in 2007, recently ran unsuccessfully for lieutenant governor of Louisiana. He was Morgan's fifth husband.

Lorrie Morgan's hits include "What Part of No" and "I Didn't Know My Own Strength."

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