Amber Heard's financial situation is not good following her trial with her ex-husband Jonny Depp. Still, the actress has surprised everyone by declaring bankruptcy after being unable to pay the trial fine to the Pirates of the Caribbean star.
Throughout the weeks, social media was flooded with videos, comments, and even live streams of both actors' testimonies.
Following the conclusion of the trial, the jury determined that Heard owed Johnny Depp $10 million in damages. Depp would also be required to pay $2 million in restitution.
As soon as the judge issued the verdict, the Aquaman actress' legal team informed the judge that the woman would not be able to repay the debt.
Heard has been involved in a legal battle to find alternatives to paying the $10 million. It is now known that she has appealed the jury's decision to have the fine reduced.
According to a spokesperson for the artist, the court made mistakes that prevented a fair and First Amendment-compliant verdict. As a result, they intend to appeal the ruling.
Amber Heard declared bankruptcy and appealed to the state of Virginia on July 21. Because she lacks the financial means to pay her debt, the 35-year-old would seek a nullity of the judgment.
As Depp points out, the verdict speaks for itself. “Mr Depp believes that now is the time for both parties to move on with their lives and regain footing. However, suppose Ms Heard is determined to continue the litigation by appealing the verdict. In that case, Mr Depp will file a contemporary appeal to ensure that the Court of Appeals considers the entire record and all relevant legal issues," a source close to Johnny Depp told CNN.
Amber Heard will have to find a way to make a few million dollars because, according to the ruling, she cannot use bankruptcy to avoid paying her ex-husband, Johnny Depp.
A seven-person jury found Heard guilty of defaming the actor in a 2019 op-ed in the Washington Post.
The jury determined that Heard published the statements with malice, implying that she lied.
The actress was ordered to pay Depp $10 million in compensatory damages and $5 million in punitive damages totalling $15 million.
Because Virginia only allows for $350,000 in punitive damages, the $5 million award will be reduced. In her countersuit against Depp, Heard was awarded $2 million in damages for press statements made by his lawyer.
Given that she admitted her acting roles dried up after Depp sued her, Heard will find it difficult to pay the $10-$15 million judgment. She will also be unable to discharge the debt via bankruptcy.
According to Los Angeles attorney Ronald Richards in an interview with RadarOnline.com, the award is not dischargeable. Punitive damages are never deductible or dischargeable under any circumstances. In most cases, intentional torts such as defamation are not dischargeable.
Heard's team will almost certainly file an appeal, attempting to reduce or reverse the verdict entirely. The actress has been coy about her legal options.
Both parties discussed the decision on social media.
After the verdict was read, Depp issued a statement that thanked the jury for giving him his "life back."
He expressed his gratitude by saying how humbled he was. His decision to pursue this case, knowing full well the legal obstacles he would face and the inevitable, global spotlight on his life, was made after much deliberation.
Heard expressed her displeasure with the outcome. She was heartbroken that the mountain of evidence was insufficient to overcome her ex-husband's disproportionate power, influence, and sway. Furthermore, she is disappointed that she lost this case, but she is even more disappointed that she appears to have lost a right she believed she had as an American - the right to speak freely and openly.
Amber had filed a $100 million countersuit against Johnny. Her net worth, according to reports, is only $8 million. Yes, even if she gives away every asset she owns, it will not be enough to cover the damages.
As a result, Elaine Bredehoft and her team of attorneys have been appealing the verdict in the Johnny Depp vs. Amber Heard case. While the original judge, Judge Penney Azcarate, denied a retrial, the actress went ahead and filed an official appeal.
Even if Amber Heard declares bankruptcy, things aren't going to get any easier for her, according to Law & Crime. She will still be required to pay the amount ordered, but there is one thing that could work in her favor. Officials will give the actress some more time to make the payments, but that's all. By hook or crook, that money will eventually find its way to Johnny Depp!
However, after Heard's lawyers filed an appeal, Depp's lawyers did not hold back either. They ended up filing a request against Johnny's $2 million fine after one of his attorneys called Amber's allegations a "hoax."’
The high-profile feud between Johnny Depp and Amber Heard isn't going away anytime soon.
Raiford Dalton Palmer, an attorney, told HollywoodLife that the payment could be made even if Heard does not have enough money.
Palmer stated that Johnny Depp would be able to collect her future earnings from films and other projects. Aside from that, her assets are available for collection. The attorney explained that Johnny has a judgment against her and that she owes him money. For decades, he can collect on her assets and income. Smart people with money, on the other hand, know how to protect their assets, he adds.
According to Raiford Dalton Palmer, she may try to use bankruptcy to delay payments, but this is not a panacea. Furthermore, Amber has indicated that she intends to file an appeal against the case's verdict. She will have to pay more if she does this.
According to some reports, Judge Azacarate has stated that if Amber Heard files an appeal against Johnny Depp, she will be required to pay $480,000 (6% interest).
Although Heard's net worth is unknown, she has earned millions for her roles in television and films such as "Aquaman" and "Aquaman 2." She previously received a $7 million settlement from Depp following their 2016 divorce, which she pledged to donate to charities such as the American Civil Liberties Union. During the trial, she stated that she had yet to fulfil the pledge due to Depp's lawsuit.
When asked if her client could afford to pay the $10.35 million judgment, Heard's attorney, Elaine Charlson Bredehoft, told the "Today" show that she couldn't. Bredehoft also stated that Heard intends to appeal the ruling, even though he did not address Heard's financial options concerning the judgment.
While Heard has the option to appeal the verdict, she may be required to post a bond for the full $10.35 million judgment, plus interest, as the appeal proceeds, according to Spurgeon Law Group in Lexington, Kentucky attorney Sandra Spurgeon.
Spurgeon told CBS MoneyWatch that there is a real issue if the winning party intends to execute the judgment against an individual who cannot pay the judgment and the ability to post the bond.
As previously stated, Heard could appeal the verdict to obtain a more favourable judgment and lower the payment.
According to Brian Pastor, an Atlanta attorney, if she wants to stay the execution of the $10.35 million judgment, she will almost certainly have to post a bond. He specializes in litigation and securities and has experience dealing with judgments. He said heard could also choose not to post a bond, which would allow Depp to carry out the judgment.
According to legal experts, if Heard decides not to appeal but does not have enough money to pay the judgment, her current and future wages could be garnished.
Pastor speculated that Depp might go after more than just her salary. He could also collect by seizing her real estate, jewellery, and other valuable possessions — though some assets, such as retirement accounts, would be protected.
The pastor stated that if he were to advise Heard, he would recommend he immediately maximize everything in a retirement account.
According to Spurgeon, Depp could also choose not to execute the judgment, effectively waiving the monetary damages.
She stated he is currently in charge, noting that Depp could negotiate a lower monetary figure with Heard.
If Heard files an appeal, as she is rumoured to do, that could be a negotiating point for a lower payment or dropping the case entirely, Pastor said.
He's already won in the court of public opinion, so perhaps he's willing to say that if she drops the appeal, he'll drop the judgment.
Depp did not say whether he plans to pursue the monetary judgment against Heard in his Instagram comment following the verdict. He stated that the goal of bringing this case was to reveal the truth, regardless of the outcome.
He added that he is relieved that he has finally achieved his goal.
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