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Braxton loses copyrights in post-bankruptcy auction
By Chris Cooke | Published on Tuesday 30 July 2013
American R&B star Toni Braxton has lost the rights she owned in some of her biggest hits after being outbid at an auction for the copyrights, caused by her bankruptcy.
As previously reported, Braxton declared bankruptcy in 2010, with debts of somewhere between $10 and $50 million. Her assets were sold to pay off creditors, though the singer negotiated the rights to buy back some of her property.
The copyrights in songs like ‘You’re Making Me High’ and ‘Always’, however, were put up for auction. Braxton was allowed to bid herself, and offered $20,000 for the 27 copyrights on the block.
But, according to TMZ, a man called Ross M Klein offered twice as much, and walked away with Braxton’s rights. The singer is yet to comment.
