The Broke and the Beautiful: Meet the Bankruptcy Court Edition

04/25/14

This week on The Broke and the Beautiful, “Meet the Parents” star Teri Polo is in bankruptcy and Tavern on the Green is reopening.  Also, Alec Baldwin is helping out Central Falls, R.I.’s public library.

Teri Polo attends the VIP Red Carpet Suite hosted by Ketel One Vodka at the 25th Annual GLAAD Media Awards on April 12 in Beverly Hills, Calif.
Rochelle Brodin/Getty Images

Actress Teri Polo filed for Chapter 11 bankruptcy with hundreds of thousands of dollars in debt. According to court documents (h/t TMZ), the “Meet the Parents” star owes the Internal Revenue Service about $745,000 in income taxes, not to mention the $27,000 in back taxes she owes the state of California. Among her liablities is nearly $30,000 owed to American Express and almost $7,000 owed to Chase. As TMZ noted earlier this year, Ms. Polo’s ex-landlord sued her for allegedly not picking up after her pet, something Ms. Polo disputed in her bankruptcy filing.

The new Tavern on the Green restaurant in Central Park, which opened Thursday.
Peter Foley for The Wall Street Journal

Manhattan’s famed Central Park restaurant Tavern on the Green filed for bankruptcy in 2009 and shut down at the end of that year. But fast forward to 2014, and you’ll see the restaurant is back and ready to appeal to city residents. According to The Wall Street Journal, the restaurant is now promising a seasonal, locally sourced menu. Jim Caiola, one of the new proprietors, said he had faith in the restaurant’s revamped image. “The size of it has never been that intimidating to me,” Mr. Caiola told WSJ.

Alec Baldwin at the TCM Classic Film Festival’s Opening Night Gala at the TCL Chinese Theatre in Los Angeles.
Annie I. Bang/Associated Press

The city of Central Falls, R.I., got a little help from celebrity friends when it was in bankruptcy. Alec Baldwin, for example, donated money to the Central Falls High School chess team and to the city’s library. Actress Viola Davis also donated money to the library. Now Mr. Baldwin is back to help, the Associated Press reported. He’s set to headline a fundraiser in June in Providence to help the library. As the AP noted, people who attend the fundraiser can buy raffle tickets for the chance to read dialogue with Mr. Baldwin. Central Falls filed for Chapter 9 protection in 2011 with $21 million in general-obligation debt. It left bankruptcy in 2012.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa.

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