- By Shelby Lin Erdman, Cox Media Group National Content Desk
Actor Johnny Depp’s bitter legal feud with his former business team at The Management Group is intensifying after TMG filed foreclosure actions Monday on five Depp properties in the Los Angeles area to collect on an unpaid loan, according to court documents.
The agency said “The Pirates of the Caribbean” star owes them nearly $5 million from a 2012 loan, which Depp stopped making payments on after parting ways with TMG and on advice from his legal team, People Magazine reported.
“Depp paid interest and some principal payments under the TMG/Depp Note until he terminated TMG as his business manager on March 14, 2016,” the Los Angeles state court filing said, according to Deadline Hollywood.
“Today’s improper foreclosure action is the latest ... efforts to intimidate Mr. Depp into dropping his lawsuit,” Depp’s attorney Adam Waldman told People.
Waldman told the magazine TMG will not get Depp’s properties, “and they know it.”
“We will move for sanctions for this latest publicity stunt,” Walsdman said.
Depp sued TMG for fraud last February in a $25 million lawsuit claiming the the agency was attempting to foreclose on his main home.