Michael Kump, the lawyer for TMG and the Mandels, explained that for 30 years, Joel and Rob Mandel, and their company The Management Group, have been trusted business managers to some of the most successful individuals and companies in the entertainment business.
He added that for 17 of those years, they did everything possible to protect Depp from his irresponsible and profligate spending. In December 2012, Depp faced financial ruin with the impending default on a $5 million bank loan. The Mandels bailed him out by loaning him $5 million, which he promised to repay by January 2014.
Kump added that Johnny Depp’s tactics and lawsuit will fail, and he will be forced to pay back the loan as promised.
TMG’s lawsuit claims that Depp has refused to live within his means. They also provided multiple examples of the actor’s out-of-control spending, including the $75 million he spent on 14 homes around the world, and the $3 million he spent blasting late journalist Hunter S. Thompson’s ashes out of a cannon, which was a request in the author’s will.
Johnny Depp is set to appear in the upcoming “Pirates of the Caribbean: Salazar’s Revenge,” set for release in May this year, and the sequel to “Fantastic Beasts and Where to Find Them” due to hit theaters next year.