By Daryl Lang
© Sony/Photo by Markus Klinko and Indrani
A Beyoncé album cover photographed by Markus Klinko and Indrani.
Beset by unpaid debts, New York-based celebrity photographers
Markus Klinko and
Indrani have filed for Chapter 11
bankruptcy protection.
The duo, who were formerly a romantic couple and remain business
partners, have photographed such A-listers as
Will Smith and
Beyoncé and shot work for major clients including Nike and
Vogue. The photographers are scheduled to star in an
upcoming reality show on the Bravo network called “Double
Exposure.”
The two filed for bankruptcy separately. Indrani, who is identified
in court documents as
Julia Pal-Chaudhuri, filed for
protection in U.S. Bankruptcy Court, Southern District of New York
in a petition dated August 17. Klinko’s filing is dated August
20.
“The business has been devastated by the recession,” explains a
filing by Double Exposure Studio, Indrani’s studio. The studio
reports liabilities of $100,000 to $500,000 and assets of less than
$50,000. Indrani's business apparently owes unpaid taxes; her
filing lists the IRS as a debtor.
Klinko, meanwhile, says his photography business has $1 million to
$10 million in liabilities and less than $50,000 in assets. “We owe
money to many trade vendors which we cannot pay at this time, but
anticipate paying under a plan,” says Klinko in a filing.
The photographers were facing debt problems even before the
recession started. All Points Capital Corporation sued Klinko in
2007, seeking hundreds of thousands of dollars in unpaid mortgage
debts. This year, Indrani was named as an additional defendant in
the All Points suit.
The bankruptcy documents were published Friday
on the Web site of The Wall Street Journal.
The Bravo show is not on the air yet, but is scheduled to premiere
next year. The network bills the show this way: “With two former
lovers working together 18 hours a day in incredibly high-stress
environments, filled with deadlines, stretched budgets, expensive
locations and demanding talent, it's not unusual for sparks to fly
both on camera and outside the frame."
Markus Klinko and Indrani File for Bankruptcy
Aug 21, 2009
By Daryl Lang
A Beyoncé album cover photographed by Markus Klinko and Indrani.
Beset by unpaid debts, New York-based celebrity photographers
Markus Klinko and
Indrani have filed for Chapter 11 bankruptcy protection.
The duo, who were formerly a romantic couple and remain business partners, have photographed such A-listers as
Will Smith and
Beyoncé and shot work for major clients including Nike and
Vogue. The photographers are scheduled to star in an upcoming reality show on the Bravo network called “Double Exposure.”
The two filed for bankruptcy separately. Indrani, who is identified in court documents as
Julia Pal-Chaudhuri, filed for protection in U.S. Bankruptcy Court, Southern District of New York in a petition dated August 17. Klinko’s filing is dated August 20.
“The business has been devastated by the recession,” explains a filing by Double Exposure Studio, Indrani’s studio. The studio reports liabilities of $100,000 to $500,000 and assets of less than $50,000. Indrani's business apparently owes unpaid taxes; her filing lists the IRS as a debtor.
Klinko, meanwhile, says his photography business has $1 million to $10 million in liabilities and less than $50,000 in assets. “We owe money to many trade vendors which we cannot pay at this time, but anticipate paying under a plan,” says Klinko in a filing.
The photographers were facing debt problems even before the recession started. All Points Capital Corporation sued Klinko in 2007, seeking hundreds of thousands of dollars in unpaid mortgage debts. This year, Indrani was named as an additional defendant in the All Points suit.
The bankruptcy documents were published Friday
on the Web site of The Wall Street Journal.
The Bravo show is not on the air yet, but is scheduled to premiere next year. The network bills the show this way: “With two former lovers working together 18 hours a day in incredibly high-stress environments, filled with deadlines, stretched budgets, expensive locations and demanding talent, it's not unusual for sparks to fly both on camera and outside the frame."
