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Princess Diana's Dresses Up For Auction After Florida Woman Who Bought Them For Charity Goes Bankrupt

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When she bought 14 of Princess Diana's dresses at Christie's in June 1997, Maureen Rorech Dunkel had no idea that in just three months, they would become virtually priceless.

After Diana's death in a Paris car crash, the Florida businesswoman set up a charitable foundation which was supposed to display the gowns around the world and continue the princess's legacy.

But instead Ms Dunkel racked up at least $2.5million in debt through failed exhibitions, and tomorrow faces the embarrassment of auctioning off all 14 dresses to pay off her creditors.

Auctioneers Waddington's say some of the proceeds will go to the National Ballet School of Canada, but much of it will be used to pay off Ms Dunkel's debts.

She filed for bankruptcy in 2010, after using the dresses as collateral to secure a $1.5million loan for a housing project which ended in failure.

Her attorney, Jeffrey Warren, told the St Petersburg Times: 'A lot of her money was spent on that real estate development that went sour. But she worked out a plan to pay all her creditors in full.

Read more: http://www.dailymail.co.uk/news/article-2006910/Princess-Dianas-dresses-auction-Florida-woman-bought-goes-bankrupt.html#ixzz1Q1oBCzUF

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Here is another one - allegedly worth one billion at one point and quite infamous for a certain kind of party allegedly.

Where did all the money go? Former nude model who became 'richest divorcee in history' declares herself bankrupt

Read more: http://www.dailymail.co.uk/news/article-2006943/Richest-divorcee-history-declares-bankrupt.html#ixzz1Q2IvEWRs

Lucky girls


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Takes some doing getting through a billion if it was hard assets and cash.

Not so sure, living a party life style maybe, but it only takes a couple of big property deals and a ton of poor stock investments to go belly up and it's gone in an instant.

I still think you have to be some kind of idiot to do it. The thing of course to consider is that becoming bankrupt doesn't mean you have nothing just you assets will be considerably worth less than your debts.

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