PORTLAND, Maine – Famed attorney F. Lee Bailey has filed for bankruptcy in Maine in an effort to discharge an IRS debt of more than $5 million.
Debts to the Internal Revenue Service aren’t normally discharged in bankruptcy proceedings, but the 83-year-old told the Portland Press Herald (http://bit.ly/28Se2hO ) on Friday that it can be as long as one complies with certain conditions. The debt stems from a dispute over his reportable income from 1993 to 2001.
During that time period, Bailey served as one of O.J. Simpson’s attorneys at his murder trial.
The bankruptcy filing also lists $364,925 owed on Bailey’s Yarmouth condominium.
Bailey was disbarred in Florida in 2001 over mishandling client assets. Massachusetts issued a reciprocal disbarment in 2003. Bailey’s bid to gain admission to the Maine bar failed in 2014.