Burt goes bust Hollywood style

THERE is bankruptcy - and then there is Hollywood bankruptcy.

It is only two years since Burt Reynolds claimed he was effectively broke and owed $10 million.

Yet the actor is hardly on the streets. Thanks to a career comeback launched with the success of Boogie Nights, Reynolds is now leasing a vast mansion in Bel-Air for $20,000 during a Hollywood filming visit. The display of ostentation may annoy his creditors, who continue to demand their money back and want him hauled before a judge to declare his anticipated earnings. The 5,200-square foot five-bedroom mansion stands in a wealthy neighbourhood favoured by stars. It boasts manicured grounds, a projection room, swimming pool and spa and is fully-furnished and comes with a full-time housekeeper. Reynolds and lover Pam Seals will occupy it for three months. "It is in the same neighbourhood as Elizabeth Taylor's home," said one local resident. Reynolds, financially battered by a failed career and bitter divorce, filed for bankruptcy protection two years ago and has vowed to repay all his debts. His spectacular 160-acre Florida ranch, valued at almost $5 million, is up for sale. He is now in the middle of a major career comeback. Last month his lawyers told a Florida bankruptcy court that they expected him to earn $150,000 a month for the next two years. However, some of his creditors ranging from a hairstylist to the giant CBS Network - remain sceptical about that figure and a judge has ordered a new assessment of Reynolds's earnings. "We believe, in light of Mr Reynolds's enhanced or renewed career, that that number is too low," said Robert Gilbert, a lawyer representing some of the creditors. Reynolds credits his role as a pornographic movie producer in Boogie Nights with turning his career around. On its release he was immediately snapped up by Disney for Mystery, Alaska, then made his first TV commercial and has been in steady demand ever since. He is leasing the Bel-Air property while filming the first of three major TV films in which he will star. "I was literally in third place for this role," he said of the Disney film. "Then these awards begin to come along and suddenly it was, 'Hello, Mr Reynolds', and I had the role. "This has been the craziest year of my life. I knew going in that if Boogie Nights didn't work, I may never work again."

Copyright 1998
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