This is the latest Hollywood news to day. In the reports, Toni Braxton filed in court a petition of bankruptcy. Toni Braxton is one Hollywood celebrity that has reigned in many music festivals because of her unique music. Many celebrities could not believe on what happened to the finances of Toni Braxton. In the previous years back, Toni Braxton was noted as one of the most riches Hollywood celebrities and now that riches that Toni Braxton has are extinct already. Toni Braxton has no more shows and record to sell. producers are no longer interested in her music because of the new stars like Miley Cyrus and Charice Pempengco. According to reports, Toni Braxton was engaged into lavish spending and she did not noticed that her bank accounts are already empty. Toni Braxton is the female version of Michael Jackson.