Joel R. Glucksman
Partner
201-896-7095 jglucksman@sh-law.comFirm Insights
Comedian Sinbad Files For Chapter 13 Bankruptcy
Author: Joel R. Glucksman
Date: June 11, 2013
Key Contacts
Back
Long-time comedian and television actor Sinbad has run into financial problems once again, as it was recently announced that he will file for Chapter 13 bankruptcy protection for the second time since 2009.
Sinbad, whose legal name is David Adkins, continues to bring in income from performances at casinos and stand-up comedy clubs, but he noted his income has not been significant enough to help him eliminate more than $11 million in debt.
The 56-year-old actor, who is well-known for his 1990s roles in “Houseguest” and “Jingle All the Way,” claimed assets totaling $131,000 and said he only brings in $16,000 each month. In his court filing, he cited a balance of $374,979 in credit card debt owed to American Express and $32,199 owed to Bank of America. The actor also said he has balances totaling millions of dollars in state and federal back taxes, and owes roughly $8.3 million to the Internal Revenue Service.
The comedian filed for bankruptcy protection in 2009 as well, but the case was dismissed after he failed to file the correct documents. In a recent interview with Oprah, Sinbad claimed that his financial troubles, which date back to the mid-2000s, are not the result of an extravagant or luxury lifestyle.
“I didn’t buy Bentleys,” he explained, according to the Huffington Post. “I didn’t live large. I invested in me. I invested in a lot of other people. I would not change it. I would not go back.”
Adkins filed for bankruptcy law protection under Chapter 13 of the Bankruptcy Code, meaning that debtors may readjust their debts, but keep most of their property or assets while following a strict repayment outline as dictated by a bankruptcy trustee. The process typically takes between three and five years, but may vary on a case-by-case basis.
- Practices: Corporate Transactions & Business, Bankruptcy & Creditors' Rights
- Locations: Red Bank, NJ, New York City, Little Falls, NJ
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Related Posts
See all
SECURE 2.0 RMD Planning Strategies
How the Updated Law Shapes Retirement and Estate Planning The SECURE 2.0 Act of 2022 materially reshapes the required minimum distribution (RMD) landscape, extending tax deferral opportunities while accelerating distribution requirements for many beneficiaries. For high-net-worth individuals and families, these changes are not merely technical. They require a reassessment of retirement income strategies, beneficiary planning, […]
Author: Marc J. Comer
Buying Commercial Property in New Jersey: Legal Guide for Small Businesses
Small businesses considering buying commercial property in New Jersey must evaluate a range of legal, financial, and operational factors. While ownership can offer long-term value and control, it also introduces significant risks if not properly structured. This guide outlines key considerations to help New Jersey business owners make informed decisions, minimize legal exposure, and successfully […]
Author: Robert L. Baker, Jr.
The SEC’s Latest Guidance on Applying Federal Securities Laws to Tokenized Securities
On January 28, 2026, staff of the U.S. Securities and Exchange Commission’s Divisions of Corporation Finance, Investment Management, and Trading and Markets issued a joint statement clarifying how existing federal securities laws apply to tokenized securities. The SEC’s “Statement on Tokenized Securities” does not establish new law, but it does provide greater clarity on the […]
Author: Dan Brecher
Common Legal Mistakes NYC and New Jersey Business Owners Make
Operating a business in the New Jersey and New York City metropolitan region offers incredible opportunities, but it also requires navigating a dense and highly regulated legal environment. From entity formation to regulatory compliance, seemingly minor legal oversights can expose business owners to significant risk. In our work with businesses throughout the region, our attorneys […]
Author: Dan Brecher
What Founders Can Learn From Start-up Suits
High-profile founder litigation is more than just a media spectacle. For startup founders, these cases underscore the legal and structural risks that can arise when rapid growth outpaces formal oversight. While launching a new company can be both an exciting and deeply rewarding endeavor, founders must be mindful that it also comes with significant risks. […]
Author: Dan Brecher
Corporate Governance Reviews: A Practical Guide for New Jersey Companies
Every New Jersey company should periodically evaluate its governance framework. Strong corporate governance protects directors and officers, builds investor confidence, reduces litigation exposure, and positions a company for sustainable growth. The first quarter of the year is a great time to evaluate your corporate governance practices and perform any routine maintenance needed to keep that […]
Author: Ken Hollenbeck
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.