July 8, 2011

Link

The organization that hands out Grammy awards to musicians is taking the mic to speak up in Toni Braxton’s bankruptcy out of concern that the R&B and pop singer’s six awards could one day be sold.

The National Academy of Recording Arts & Sciences Inc., or NARAS, on Tuesday filed its response to a deal Braxton struck to ensure she gets to keep possession of such prized possessions as the Grammys as well as her Tiffany jewelry and 1995 Porsche 911.

But if Braxton doesn’t pay $125,000 to her creditors, the trustee overseeing her bankruptcy liquidation can seize and sell the property covered by the agreement.

According to NARAS, the deal doesn’t adequately make it clear that Braxton’s Grammys can’t be sold without the organization’s consent.

The annual awards, which NARAS has been handing out since 1959, are nontransferable. NARAS said it’d be okay with the deal if the wording is tweaked to reflect these terms.

Braxton won her first Grammys in 1993 in the Best New Artist and Best Female R&B Vocal Performance categories.

She won Best Female R&B Vocal Performance three more times—for the songs “Breathe Again” in 1994, “You’re Makin’ Me High” in 1996 and “He Wasn’t Man Enough” in 2000. And of course there’s mega-hit “Un-Break My Heart,” which won the Best Female Pop Vocal Performance category in 1996.

The U.S. Bankruptcy Court in Los Angeles will likely address NARAS’s concern at a July 19 hearing, when it’s slated to consider the deal between Braxton and Chapter 7 trustee David A. Gill.

The deal resolves a dispute between the trustee, whose mission is to recover as much possible value for Braxton’s creditors, and Braxton, who wants to hang onto such items as household goods, furniture, clothes, books, jewelry, a life-insurance policy, a piano and a Porsche. She’ll keep the items—which remain subject to a lien by the Internal Revenue Service for unpaid taxes—as long as she pays the trustee $5,000 each month for the next 15 months.

Gill said while he believed he’d win lawsuits to recover the assets for Braxton’s creditors, the cost of pursuing such litigation could result in lower recoveries for creditors than the $125,000 they stand to receive under the deal.

Oh Jesus fucking Christ... so instead of bettering their awards, they wanna help someone who should've gotten her money issues in order. Thanks a lot, Grammy committee.

I do not have a problem with her keeping her awards but she has to be

more fiscally responsible than she has.

if people been paying attention its due 2 her illness that she had to file bankruptcy this time not being able 2 perform and having to cancel the vegas shows. i think she will rebound with this new reality show cuz she is getting paid per episode. i hope she recover cuz she is a great singer and seem 2 b a cool person i hate seeing anyone suffer financial wheter they deserve it or not. shit look america look it how much debt our country is in so how can we talk shit about her

The take away for me from this article is the laughable fact that she has six grammys.

Toni has made a mess of her career.It's just one embarassment after another

All things considered,maybe Toni should pose nude in Playboy after all.The money would come in handy right now.

sosgemini said:

sosgemini said:

The take away for me from this article is the laughable fact that she has six grammys.

I love Toni Braxton's music, especially from her heyday. She won Grammys for some great R&B /Pop songs.

sosgemini said:

The take away for me from this article is the laughable fact that she has six grammys.

HEY! I think she earned most of the Grammys especially from the debut.

Timmy84 said:

sosgemini said:

The take away for me from this article is the laughable fact that she has six grammys.

HEY! I think she earned most of the Grammys especially from the debut.

Yeah she was the "token" one that year, got tons of nods, the grammys do it like that all the time, they shower you with award nominations, though in reality ITS NOT the acutal grammys that due it, its the labels that push it through and the artists and writers etc..that are on the board that push it through, the GRAMMYS themselves have little say in what gets nods, its just tabulating everything, if you have a record out you are on the initial ballot.

lastdecember said:

Timmy84 said:

HEY! I think she earned most of the Grammys especially from the debut.

Yeah she was the "token" one that year, got tons of nods, the grammys do it like that all the time, they shower you with award nominations, though in reality ITS NOT the acutal grammys that due it, its the labels that push it through and the artists and writers etc..that are on the board that push it through, the GRAMMYS themselves have little say in what gets nods, its just tabulating everything, if you have a record out you are on the initial ballot.

I remembered the hype machine surrounding Toni and the debut album, which obviously worked because it was real good. The hype continued into Secrets, then she crashed down to earth and hasn't recovered since.

Timmy84 said:

lastdecember said:

Yeah she was the "token" one that year, got tons of nods, the grammys do it like that all the time, they shower you with award nominations, though in reality ITS NOT the acutal grammys that due it, its the labels that push it through and the artists and writers etc..that are on the board that push it through, the GRAMMYS themselves have little say in what gets nods, its just tabulating everything, if you have a record out you are on the initial ballot.

I remembered the hype machine surrounding Toni and the debut album, which obviously worked because it was real good. The hype continued into Secrets, then she crashed down to earth and hasn't recovered since.

they all crash down to earth with being "the shit" everyone talks about, its how they deal with it and if they still DO GOOD WORK or still chase after the "light", Norah Jones is one that doesnt chase that light anymore and never did, and she does fine and records better and better stuff and grows, toni i love but she has done alot of crap music because she still "chases" the 90's toni.

SoulAlive said:

Toni has made a mess of her career.It's just one embarassment after another

She has many health issues. If you are sick you cannot work

laurarichardson said:

SoulAlive said:

Toni has made a mess of her career.It's just one embarassment after another

She has many health issues. If you are sick you cannot work

or maybe she just doesn't know how to budget her money?

SoulAlive said:

laurarichardson said:

She has many health issues. If you are sick you cannot work

or maybe she just doesn't know how to budget her money?

you just want her to pose nude

sosgemini said:

The take away for me from this article is the laughable fact that she has six grammys.

Umm...I thought that she deserved them. Her finances may be a complete mess, but I thought that the music was good.

bboy87 said:

SoulAlive said:

or maybe she just doesn't know how to budget her money?

you just want her to pose nude

SoulAlive said:

laurarichardson said:

She has many health issues. If you are sick you cannot work

or maybe she just doesn't know how to budget her money?

What money!!! In the music industry you make most of your money from touring. You cannot tour if you have a numerous health issues. In addtion, Toni is a signer not a songwriter so no royalties are coming her way. You need to do a little reserch and stop embarrassing yourself.

SoulAlive said:

laurarichardson said:

She has many health issues. If you are sick you cannot work

or maybe she just doesn't know how to budget her money?

What money!!! In the music industry you make most of your money from touring. You cannot tour if you have a numerous health issues. In addtion, Toni is a signer not a songwriter so no royalties are coming her way. You need to do a little reserch and stop embarrassing yourself.

laurarichardson said:

SoulAlive said:

or maybe she just doesn't know how to budget her money?

What money!!! In the music industry you make most of your money from touring. You cannot tour if you have a numerous health issues. In addtion, Toni is a signer not a songwriter so no royalties are coming her way. You need to do a little reserch and stop embarrassing yourself.

Oh,stop making excuses for her She has filed for bankruptcy not once but TWICE.At some point,people need to be responsible with their money and learn how to budget and save it.The IRS don't want excuses,they want their money.

SoulAlive said:

laurarichardson said:

What money!!! In the music industry you make most of your money from touring. You cannot tour if you have a numerous health issues. In addtion, Toni is a signer not a songwriter so no royalties are coming her way. You need to do a little reserch and stop embarrassing yourself.

Oh,stop making excuses for her She has filed for bankruptcy not once but TWICE.At some point,people need to be responsible with their money and learn how to budget and save it.The IRS don't want excuses,they want their money.

It is actually because of her illness and not being able to tour. Its not because she doesnt know how to spend. I actually remember that in an interview she said that some of the things that were listed in an article that they said she owed wasnt even true. She lost alot of money when she fell ill on her last tour and couldnt complete the gigs. Im sure you know that when an artist signs up to tour that have to complete a certain number of dates before they even break even with the start up cost of the tour ( I dont think she even got to the break even point). Then after that point, every show they still have to pay a whole bunch of other fees before they even get their cut. Artist also have to put up some form of collateral when they tour just in case they try to bail out or something.

She also implied that she filed bankruptcy while being with LaFace but she couldnt publically talk about it after TLC did that docu and stated how broke they were after selling millions of records. Its very beliveable

lastdecember said:

sosgemini said:

The take away for me from this article is the laughable fact that she has six grammys.

As many as the beatles had and most of theirs were won for the anthology

Now, that really puts things in perspective. What in the hell?? and for that matter, Teena Marie didn't get 1.

Fock the Grammies. Who cares about the stupid trophy. It doesn't mean sheit anyways.

purple05 said:

SoulAlive said:

Oh,stop making excuses for her She has filed for bankruptcy not once but TWICE.At some point,people need to be responsible with their money and learn how to budget and save it.The IRS don't want excuses,they want their money.

It is actually because of her illness and not being able to tour. Its not because she doesnt know how to spend. I actually remember that in an interview she said that some of the things that were listed in an article that they said she owed wasnt even true. She lost alot of money when she fell ill on her last tour and couldnt complete the gigs. Im sure you know that when an artist signs up to tour that have to complete a certain number of dates before they even break even with the start up cost of the tour ( I dont think she even got to the break even point). Then after that point, every show they still have to pay a whole bunch of other fees before they even get their cut. Artist also have to put up some form of collateral when they tour just in case they try to bail out or something.

She also implied that she filed bankruptcy while being with LaFace but she couldnt publically talk about it after TLC did that docu and stated how broke they were after selling millions of records. Its very beliveable

Still get a laugh thinking about TBoz relating the story how she, Chili and Left Eye went up to the front office with guns demanding their dayum money.

no matter what the artist say people gonna believe what the media print. the lady has been real ill and cant perform no old school artist makes money off album sells they have to tour there ass off to profit look at prince. one thing about toni she can really sing instead of selling lady goon people should be buying toni a real vocalist her shole family of sisters can sang

purple05 said:

SoulAlive said:

Oh,stop making excuses for her She has filed for bankruptcy not once but TWICE.At some point,people need to be responsible with their money and learn how to budget and save it.The IRS don't want excuses,they want their money.

It is actually because of her illness and not being able to tour. Its not because she doesnt know how to spend. I actually remember that in an interview she said that some of the things that were listed in an article that they said she owed wasnt even true. She lost alot of money when she fell ill on her last tour and couldnt complete the gigs. Im sure you know that when an artist signs up to tour that have to complete a certain number of dates before they even break even with the start up cost of the tour ( I dont think she even got to the break even point). Then after that point, every show they still have to pay a whole bunch of other fees before they even get their cut. Artist also have to put up some form of collateral when they tour just in case they try to bail out or something.

She also implied that she filed bankruptcy while being with LaFace but she couldnt publically talk about it after TLC did that docu and stated how broke they were after selling millions of records. Its very beliveable

She was on some talk show claiming that her second bankruptcy was to settle the contract associated with her Vegas gig which she was unable to continue due to her illness. However, here's the catch, she would have had to get insurance prior to signing the deal (like MJ for This Is It). I am not sure if I believe her side of the story at all. They probably gave her a huge advance which she spent and that's why she had to file bankruptcy. Either way, she was still spending beyond her means.

how do yall know what this women is doing how u know she not spending her money on hospital bills being her song has health issues as well we love 2 assume the worst in people unknowing to what they going through.point blank period record companies rip artist off and they have 2 tour like crazy and do side jobs to make it y release cds if they not gonna profit u?

SoulAlive said:

laurarichardson said:

What money!!! In the music industry you make most of your money from touring. You cannot tour if you have a numerous health issues. In addtion, Toni is a signer not a songwriter so no royalties are coming her way. You need to do a little reserch and stop embarrassing yourself.

Oh,stop making excuses for her She has filed for bankruptcy not once but TWICE.At some point,people need to be responsible with their money and learn how to budget and save it.The IRS don't want excuses,they want their money.

Stop being ignorant and learn how to read.

sosgemini said:

purple05 said:

It is actually because of her illness and not being able to tour. Its not because she doesnt know how to spend. I actually remember that in an interview she said that some of the things that were listed in an article that they said she owed wasnt even true. She lost alot of money when she fell ill on her last tour and couldnt complete the gigs. Im sure you know that when an artist signs up to tour that have to complete a certain number of dates before they even break even with the start up cost of the tour ( I dont think she even got to the break even point). Then after that point, every show they still have to pay a whole bunch of other fees before they even get their cut. Artist also have to put up some form of collateral when they tour just in case they try to bail out or something.

She also implied that she filed bankruptcy while being with LaFace but she couldnt publically talk about it after TLC did that docu and stated how broke they were after selling millions of records. Its very beliveable

She was on some talk show claiming that her second bankruptcy was to settle the contract associated with her Vegas gig which she was unable to continue due to her illness. However, here's the catch, she would have had to get insurance prior to signing the deal (like MJ for This Is It). I am not sure if I believe her side of the story at all. They probably gave her a huge advance which she spent and that's why she had to file bankruptcy. Either way, she was still spending beyond her means.

Who is more ignorant on this topic you or SoulAlive? They way both of you are attacking Toni you would think she smacked your mom or something. Get a grip.

purple05 said:

SoulAlive said:

Oh,stop making excuses for her She has filed for bankruptcy not once but TWICE.At some point,people need to be responsible with their money and learn how to budget and save it.The IRS don't want excuses,they want their money.

It is actually because of her illness and not being able to tour. Its not because she doesnt know how to spend. I actually remember that in an interview she said that some of the things that were listed in an article that they said she owed wasnt even true. She lost alot of money when she fell ill on her last tour and couldnt complete the gigs. Im sure you know that when an artist signs up to tour that have to complete a certain number of dates before they even break even with the start up cost of the tour ( I dont think she even got to the break even point). Then after that point, every show they still have to pay a whole bunch of other fees before they even get their cut. Artist also have to put up some form of collateral when they tour just in case they try to bail out or something.

She also implied that she filed bankruptcy while being with LaFace but she couldnt publically talk about it after TLC did that docu and stated how broke they were after selling millions of records. Its very beliveable

Yes it's true her latest problems financially are due to her illness;however, that wasn't the

case the first time she filed bankruptcy. She admitted she didn't understand the business

side of it and were letting others sign her checks which she talked about on Oprah.

She probably did sign a bad deal with LaFace with her initial record deal but didn't oversee

all the financial aspects of promotion and touring with the Secrets album.