Nicolas Cage to Face $36.7M Lawsuit

The financial status of Hollywood actor Nicolas Cage continues to decline in the wake of his departure from longtime former business manager Samuel Levin. Cage known for his very privately kept life now finds his laundry otherwise known as financial affairs aired on network broadcasts and headlining national rag mags weekly. His stoic Hollywood private demeanor is considered to be that of old Hollywood when actors sought to become actors rather than flaunted celebrities. Stories of the 46 years old actor begin to surface just months ago, when Cage confirmed his own lawsuit against former business manager Levin.

Not longer after the filing of the lawsuit Cage faced foreclosure of several of his US based homes. Cage's homes in the French Quarter and Garden Districts of New Orleans valuing $6.8 million were lost to foreclosure auction in November 2009. Cage reported defaulted on the New Orleans based homes owing in access of $5.5 million in back mortgage payments. Also, owing was $157, 730 in taxes to the City of New Orleans for real estate taxes. Both homes were later purchased by Birmingham, Ala.-based Regions Bank for $2.3 million and $2.2 million.

Just when the actor thought things could not possibly get any worst his financial problems have only escalated. The aloof actor now faces a $36.7 million lawsuit brought against him by Red Curb Investments after defaulting on $5 million in loans. Red Curb Investments have also alleged that the financially troubled actor failed to disclose the issues surrounding his tax debts estimated at $6 million. The disgruntle investment firm accuses Cage of over exaggeration of his personal assets noted as leverage for repayment of the loans. Such claims are already being grossly denied by Cage's lawyer who adamantly dismissed the claims in a statement released to the press. Meanwhile, Cage faces another lawsuit for $13 million brought against him by his former love interest Christina Fulton.

Cage attended his newly screened film called 'Bad Lieutenant - Port of Call New Orleans' at the Toronto International Film Festival in September 2009. And, more recently the private actor was honored for his admirable humanitarian efforts in Africa. The United Nations awarded Cage for humanitarian work. The U.N. Correspondents Association's Global Citizen of the Year award was presented to Cage for humanitarian endeavors by Secretary-General Ban Ki-moon. The UN topped the evening off by also appointed the financially troubled actor with a goodwill ambassadorship for the U.N. Office on Drugs and Crime. Upon receipt of the award Cage stated that new his role will allow him "to shine a spotlight on the need for global justice."

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