Olsen twins dad files for bankruptcy
June 27th, 2010 - 8:15 pm ICT by Aishwarya Bhatt
Los Angeles, Jun 27 (THAINDIAN NEWS) The father of the famous Olsen twins – Mary-Kate and Ashley has filed for bankruptcy. And that is not the only bad news for him. Because he is also looking at a foreclosure on his abode.
David Olsen is in a big financial mess and he presently owes the bank around $2.2 million. And apart from that, he has also defaulted on his payments for the property that he had bought in Tarzana.
According to the court documents, David Olsen and his second wife – McKenzie would be asked to vacant their abode in case they fail to pay the debts. And then the property would be publicly auctioned off, to raise money to clear the debts.
This is not the first time that David Olsen has managed to get himself in a financial mess. Last year also he had barely managed to get his home after losing it because of debts. According to a source, “David almost lost his home in 2009 because he had several tax liens but managed to borrow enough money to cover them. But he’s in a worse position now because he’s behind on mortgage payments and won’t be able to stop the auction unless he gets his hands on $2 million.”
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Tags: abode, auction, bad news, bankruptcy los angeles, court documents, dad, david olsen, debts, enough money, financial mess, foreclosure, kate and ashley, mary kate and ashley, mckenzie, mortgage payments, olsen twins, second wife, tarzana, tax liens