Paparazzi agency bankrupt after losing legal battle with Meghan Markle
The agency filed for bankruptcy after defaulting on a loan worth $1million
March 24, 2021
Meghan Markle’s legal battle with Splash News and Picture Agency saw the agencies go bankrupt.
The Hollywood Reporter reported that the agency filed for bankruptcy after defaulting on a loan worth $1million.
"Splash's financial problems stem from three sources," Splash president Emma Curzon wrote in declaration.
"As a consequence of the global pandemic the availability of celebrity images has declined and budgets within media companies have been cut to reflect wider macro-economic challenges.
"This situation has been exacerbated by two ongoing litigation cases and the costs of defending these cases," she added.
