theJasmineBRAND.com exclusively reports, Mary J. Blige continues to face financial drama. In addition to dealing with a public divorce with her estranged husband, Martin ‘Kendu’ Isaacs, she now faces a $1.9 million legal battle accusing her of defaulting on a massive loan again.
Here’s the latest: On June 26th, Signature Bank filed docs demanding their case against the singer be reopened, stating that Blige still owes them money.
Blige had entered into multiple contracts for repayment with Signature since the case was closed. However, the bank is now accusing her of still owing multiple $20k a month payments. They are seeking to have the court reinstate the $1.9 million legal battle immediately.
Here’s the backstory: Back in 2012, Signature Bank sued Blige & her then-husband Kendu Isaacs accusing them of refusing to pay back $2.2 million owed on a loan given to the singer.
The bank explained they loaned Blige $2.2 million, but she defaulted on the note which resulted in them filing suit demanding the full amount owed $58k in interest.
Blige responded, admitting she took out the massive loan back in 2010, but denied she was in default on the loan, which she claimed was paid down to $1.9 mill. The singer even accused the bank of breaching their deal NOT her.
The bank admitted Blige had made certain payments since the filing of their lawsuit, but they said that did not mean she didn’t default and demanded $1,973,253 immediately.
The case was closed due to a settlement being reached between Blige and the bank. According to docs filed in the lawsuit, Blige reached a deal to pay Signature Bank $20,000 a month back in 2015. The deal stated she would make monthly payments until the full balance was paid off, with the option to refile the lawsuit if she defaulted on the payment plan.