Jackson's former dermatologist Arnold Klein files for bankruptcy
Michael Jackson lein, who was one of the most successful doctors based in Beverly Hills, claims he owes a staggering $3.5m to his creditors
The celebrity dermatologist filed for Chapter 11 at the Central California Court as a “Single Debtor” on 20 January, listing his medical office on 435 North Roxbury Drive in Beverly Hills, where Jackson was a frequent visitor.
According to court papers, he filed as an “individual” and also ticked the box listing the number of his creditors as being between “1 and 49”.
Klein, who has a huge celebrity clientele including Cher, Dolly Parton and Elizabeth Taylor, also lists his assets as being between “$0 and $50,000” and estimates his liabilities as being between “$1,000,001 and $10 million”.
According to the bankruptcy filing, obtained by RadarOnline.com, the list of creditors holding the 20 largest unsecured claims against Klein amounts to $3,518,584.
The largest accumulative debts against him was with City National Bank, totalling some $2,695,150 in credit lines and unpaid mortgage loans.
The bankruptcy filing reveals that Klein also owes American Express $79,493 in credit card fees, Bank Of America $79,852 in credit card and banking fees, Chase $17,579 in credit card fees and Citibank $51,857 in credit card fees.
He also owes a Dr David Rish $115,000 and the IRS (Inland Revenue Service) some $127,000 in unpaid taxes, plus $103,392 to medical firm Allergen for unpaid medical supplies.
Klein is due in court on 24 March for a status hearing.