Cage Hit By Economy Woes Too?

Nicolas Cage is the recipient of a lawsuit after allegedly failing to repay a loan.

E! Online reported that Cage is being sued for breach of contract after defaulting on the $2m (£1,255,500) loan.

Court documents stated that East West Bank extended Cage a $2m line of revolving credit in August 2007, which matured a year later.

He asked for a three-month extension, but defaulted on the loan in November 2008.

Cage allegedly stopped making his monthly payments of $11,590.82 (£7,275) in May.

He missed the October 1 deadline to pay $100,000 (£62,775) in outstanding principal sums and interest. The lawsuit was filed a day later.

Cage’s spokesperson did not reply to a request for comment.


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