Don Johnson - Don Johnson's Company Files For Bankruptcy To Save Home

A company owned by actor DON JOHNSON has filed for bankruptcy to save his own Colorado home from being sold at auction.

TIMBER DOODLE GLADE EQUITY VENTURE LLC, a company controlled by the former MIAMI VICE star, filed for Chapter 11 bankruptcy on 14 April (04) in DENVER BANKRUPTCY COURT.

Johnson's bankruptcy lawyer, LEE KUTNER, says Doodle Glade is one of two entities that hold title to the Woody Creek property which Johnson purchased in 1987.

The bankruptcy filing follows a Pitkin County lawsuit brought by CITY NATIONAL BANK of Los Angeles in March (04), asking the court to allow the ranch to be auctioned to collect $930,000 (GBP516,600) Johnson owes the bank.

A judge in Los Angeles County ruled in September (03) that Johnson owed the bank $921,891 (GBP512,161), and owes $21,891 (GBP12,161) in lawyer fees.

Johnson's publicist, ELLIOT MINTZ, says the actor - ex-husband of MELANIE GRIFFITH - is refinancing the ranch and the bankruptcy filing will stave off creditors until he can get the financing he needs.