Country Music Star Eddie Montgomery Files for Bankruptcy
Eddie Montgomery, half of the country music duo Montgomery Gentry, filed for Chapter 7 bankruptcy relief on Tuesday, December 31, 2013 in Lexington, Kentucky. Montgomery claimed $13.4 million in liabilities and listed assets totaling $1.9 million. Best known for his country music hits including “Something to Be Proud Of” and “Lucky Man,” it is his failed restaurant business, Eddie Montgomery’s Steakhouse, with ex-wife Tracy Nunan that most of his debts stem from. The restaurant closed in May 2013 and is scheduled to be sold on January 10th. The singer’s attorney, Jamie Harris, told The Lexington Herald-Leader, “Due to his divorce and the restaurant closure, Mr. Montgomery filed for Chapter 7 relief to address these ongoing issues. It is very common with individuals dealing with divorce and business closure to have to seek out bankruptcy relief.”
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For more than 20 years, the Sasser Law Firm has been helping individuals and business owners sort through financial hardships to see the light at the end of the tunnel. Our North Carolina bankruptcy attorneys are all board-certified specialists, which means we have passed a complex exam, undergone a thorough peer review, and continue to earn legal education credits in this ever-evolving area of law.