The reality star has been embroiled in a bankruptcy case for nearly five years, but, E! News reports, Morgan’s long struggle to get her finances back on track has finally come to an end.
“It’s over now. It’s come to an end. The $9 million-plus is all there. It was $7 million judgment but with the administration fees, it was about another $2 million,” Morgan told the site, adding that she is now “out of Chapter 11,” a type of bankruptcy that allows reorganization to keep businesses afloat while creditors are paid back over time.
Morgan continued, “It feels great. I did a great job. I paid what I had to pay and it wasn’t easy, but at the same time it was an experience. It’s nice to be free of everyone looking at my money. I finally have my financial privacy back.”
According to Morgan, it was a failed partnership between her media company, Sonja Productions, and another company, Hannibal Pictures, that led to her bankruptcy. The companies were supposed to collaborate on a movie starring John Travolta, but when Morgan couldn’t meet Travolta’s demands and he backed out of the project, Hannibal Pictures filed a $7 million lawsuit against Morgan and won.
The judgment meant Morgan had to liquidate assets to pay what she owed.
“I’m keeping the townhouse,” she said. “I let the Colorado house go and I sold the house in France.”
But despite it all, Morgan said she has big plans for the future.
“I’m looking forward to building up my business of fine jewelry, evening wear, sportswear and swimwear,” she said. “People accused me of not being focused. I’m doing everything I said I wanted to do and I still have more to do. I still want to do home goods and appliances down the road.”