- The Management Group filed on Monday to force a sale of Depp's properties
- The company says they loaned the actor, 54, $5million in December 2012
- Depp reportedly still owes $4.4million on the loan, including fees and interest
- He sued TMG in January for $25million, claiming they mismanaged his earnings
- Depp has five homes in the Hollywood Hills worth a collective $19million
- In 1995, Depp purchased this 1920s-era eight-bedroom castle-like home
- He went on to purchase four neighboring homes and build a recording studio
By Mary Kekatos For Dailymail.com
Published: | Updated:
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254 View commentsJohnny Depp could lose five of his homes as his former business managers attempt to have the actor repay a massive loan.
The Management Group filed on Monday to force a sale of Depp's properties - all of which are in Los Angeles - in order to cover the $5million loan TMG says it gave the actor, 54, in December 2012.
'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, obtained by Deadline Hollywood, read.
Johnny Depp (pictured, Thursday) could lose five of his homes after former business managers The Management Group filed on Monday to force a sale of Depp's properties in order to cover a $5million loan it says it gave Depp in 2012
Depp has five homes in the Hollywood Hills worth a collective $19million (pictured) overlooking the Sunset Strip
It continues: 'After that date, Depp and his new business manager, (Edward) White, have refused to pay any interest or principal on the loan...
'However, in Depp’s self-centered world, "no good deed goes unpunished".'
TMG claims that Depp still owes $4.4million on the loan, including fees and interest.
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Depp has five homes in the Hollywood Hills worth a collective $19million, according to The Hollywood Reporter.
In 1995, Depp purchased a 1920s-era eight-bedroom castle-like home in West Hollywood on a four-acre eucalyptus grove.
The Pirates of the Caribbean star also has four neighboring houses as well as a recording studio that was built next to the castle-like mansion.
In 1995, Depp purchased this 1920s-era eight-bedroom castle-like home in West Hollywood on a four-acre eucalyptus grove
The Pirates of the Caribbean star also has four neighboring houses as well as a recording studio (bottom right) that was built next to the castle-like mansion
Depp's feud with TMG began in January, when he sued the company for $25million, claiming it mismanaged his earnings during a lucrative period of his career, made unauthorized loans and overpaid for security and other services.
The suit also asked for a temporary restraining order and permanent injunction enjoining the company from proceeding with the foreclosure on Depp's homes.
In a countersuit, TMG sought more $560,000 in unpaid commissions and credit card fees and to halt Depp’s suit.
According to the countersuit, the Murder on the Orient Express actorallegedly spent $75million on 14 homes world-wide and $30,000 per month on wine.
Additionally, Depp allegedly once paid $3million to 'blast from a specially made cannon the ashes of author Hunter S. Thompson over Aspen, Colorado'.
Johnny Depp
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