Sonja Morgan Vows To Keep Manhattan Home

WSJ.com:

She’s already lost the “wife” part of her reality-TV title.


Now, Bravo “Real Housewives of New York City” star Sonja Tremont-Morgan is clinging to her Upper East Side home—her “most necessary and cherished asset,” according to her financial reorganization plan recently filed with the U.S. Bankruptcy Court in Manhattan.


The plan lays out how Tremont-Morgan expects to pay off the $7 million legal judgment against her over a John Travolta movie that was never filmed, a failed Hollywood venture that prompted the socialite to file for Chapter 11 bankruptcy protection in November.


The key to Tremont-Morgan’s escape from financial hardship? Using one failed partnership to pay off another.


At the same time her attorneys filed her bankruptcy-exit plan, she sued her ex-husband, octogenarian John Adams Morgan, who has allegedly gotten in the way of her financial payoff pursuits.


Tremont-Morgan wants the court to give her the authority to sell her stake in a 35-acre Colorado ranch. Separately, she accused her former husband of blocking real-estate appraisers from a French property that she wants to sell but that he has aimed to keep after their 2006 divorce.


An attorney for John Morgan, whom Tremont-Morgan has described as a descendant of J.P. Morgan and John Adams, declined to comment.


Tremont-Morgan would also add the $3 million she received from her prenuptial agreement to the pool of $8 million her attorneys said should be enough to pay off the settlement with movie producer Hannibal Pictures Inc. The proposal allows her to keep her home on East 63rd Street.


“Indeed, the lynchpin of the plan is the establishment of a well-defined hierarchy for the liquidation of assets, leaving the Manhattan residence to the very end as may be necessary,” the plan states.