Actress Kim Basinger signed on to star in the ill-fated film Boxing Helena as a woman whose limbs are amputated after a car accident by a demented surgeon and gets held captive in a box. Basinger had second thoughts and dropped out of the role. She was sued for breach of contract after verbally agreeing to star in the movie.
During her 1993 trial, according to the Los Angeles Times, Basinger revealed she had concerns about the film after sharing it with "15 or 20 people I admire (in the entertainment industry) and the overwhelming response... was, this was a joke." Basinger was found guilty of breach of contract with Main Line Pictures. They estimated a loss of $6.4 million in potential domestic and foreign sales due to Basinger dropping out. The actress was ordered to pay $7.4 million in damages, Variety reported.
Two years before her Boxing Helena court loss, according to Deseret News, Basinger and a group of business partners decided to put up $20 million in Braselton, Ga., a town that included a bank, industrial park, 50 buildings, and 1,700 acres of land. Basinger's dream was to turn it into a "major" film and recording studio. The Baltimore Sun reported the deal fell through, and in 1995, the group re-sold the property for just $4.3 million for a considerable loss.
With these substantial financial blows, Basinger was forced to file for bankruptcy.
