"The decision to seek bankruptcy was not an easy one, but unfortunately, I am at a crossroads in my life," Usmagazine.com quoted 46-year-old Bravo star as saying in the court papers. Morgan blamed her growing debt on a failed movie venture with Hannibal Pictures Inc.
According to the reality star, production on Fast Flash to Bang Time never began because its star, John Travolta, required various conditions that Sonja Productions was unable to meet. Hannibal Pictures Inc. later filed a lawsuit against Morgan's production company and won a 7 million dollars judgment.
In addition to the lawsuit, Morgan cited her bitter divorce from her husband, a man she described as "many years my senior and a descendent of J.P. Morgan and John Adams," for her mounting financial woes.