Patricia Kluge, who was once known as “the wealthiest divorcee in history,” has filed for personal bankruptcy according to the New York Post.
The newspaper reported that British-born Kluge, 62, has filed for bankruptcy despite receiving a reported divorce settlement of $1 billion when her marriage to media mogul John Kluge ended in 1990. Also included in the settlement was possession of a 45-room mansion in Virginia known as Albemarle House.
Despite the reported wealth of the former adult film star, Kluge’s extravagant socialite lifestyle and penchant for lavish celebrity-attended events has left her facing serious financial difficulties.
This situation was worsened by the fact that Kluge’s attempt at becoming a Virginia wine-maker, leading her to buy the Kluge Estate Winery & Vineyard, failed. It has been reported that Donald Trump bought the vineyard last April after it racked up millions of dollars in loan debt problems.
In total, Kluge and her husband William Moses are said to owe as much as $46 million to various creditors.
Earlier this year, Kluge sold her 300-acre estate and auctioned off its contents – including valuable antiques and heirloom-quality jewellery – as a debt management tactic, but to no avail. She recently filed for bankruptcy in a Virginia court, and a trustee has been appointed to sell Kluge’s remaining assets and start making payments to creditors.
Speaking to the Daily Telegraph about her financial troubles, Kluge said:
“It needn’t have come to this, and we had settlement talks on the table, but the banks decided this was the route to take. We’re focused on the future and moving forward.”
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