Pavarotti's 12 million debt shocks family

Monday, October 22, 2007

London (ANI): Late opera legend Luciano Pavarotti"s family has been left shocked by the knowledge that he ran up debts of 12 million pounds. Pavarotti"s second wife Nicoletta Mantovani and for his three daughters by his first marriage are said to be 'amazed" about his debts. Lawyers for the two sides are now looking into his bank accounts. When the famous singer died last month, his fortune was estimated to be in excess of 200 million pounds.

However, respected Italian daily La Repubblica published bank statements that showed that Pavarotti had a 7 million pounds overdraft at the Monte dei Paschi di Siena bank in Bologna. The paper also showed that he owed more than 5 million pounds in mortgage payments. Notary official Giorgio Cariani said that they had just begun to take inventory of the tenor"s assets. "We are just at the beginning of the inventory," the Daily Mail quoted him, as saying. "The paperwork we have gone through is only a small part and it will take us several weeks yet to complete the work."

Giorgio Bernini, Miss Mantovani's lawyer, said: "The fact that the maestro had debts is no secret to anyone. In the final years of his life he cut back on his performances and he also had very expensive hospital bills to pay." Fabrizo Corsini, the lawyer representing Pavarotti's daughters, said: "We never imagined Pavarotti would owe so much... We have received the paperwork and we are going through it with a fine toothcomb to see what exactly he had or didn't have."