"American Pie" producer Warren Zide has filed for bankruptcy after he was hit with a tax demand for more than $500,000. A $518,630 lien was filed against the moviemaker by officials of the state of California at the Los Angeles County Recorder of Deeds on July 14.
It was the latest in a string of financial demands dating back to 1999 for Zide - and on August 18 he filed for bankruptcy, according to The Detroit News. In court papers, the producer listed estimated assets and liabilities between $1 million and $10 million and creditors include the California Franchise Tax Board and America's Internal Revenue Service (IRS).
Zide's $1.69 million house in Santa Monica is also up for sale, according to the documents.
Warren Zide is currently listed among the board of producers for "5nal Destination". The movie, set for August 26, 2011 release, is also produced by Craig Perry.