Highlights

• Kim Basinger faced bankruptcy after losing a lawsuit over the film Boxing Helena, causing a major strain in her family.
• She opened up about losing everything due to the legal battle in an emotional interview with Barbara Walters.
• Peers advised her to back out of the film before production, fearing it would destroy her career, leading to a costly court battle.

Kim Basinger hasn't had the easiest career in Hollywood, and her problems were repeatedly made public. She had a nightmare experience working with Mickey Rourke in 9 1/2 Weeks. In addition, Basinger was forced to file for bankruptcy after losing a case to Main Line Pictures for the forgettable film, Boxing Helena.

Basinger hasn't said much about the situation. However, years ago, she took on an interview with Barbara Walters, which was clearly an attempt to clear her name. Walters asked Basinger about the lawsuit, and it was clear from her response that the situation caused a massive strain on her family.

We'll reveal what she had to say, and why Basinger was adamant about leaving the film behind. We'll conclude by taking a look at another costly lawsuit Basinger faced years later.

Let's get started.

Kim Basinger Told Barbara Walters That Going Bankrupt Caused A Big Rift In Her Family

Kim Basinger clearly knows a thing or two about going through hard times. That has been evident throughout her career as the actress has been tangled in some legal battles. Perhaps the worst of the bunch took place against Main Line Pictures for the film, Boxing Helena. It was deemed that Basinger had breached her contract by getting out of the film. In turn, she had to fork over millions, which caused her to file for bankruptcy.

Rarely did Basinger open up about the decision, but she agreed to do so during an interview with the late Barbara Walters. During the chat, Basinger got emotional, discussing the situation, and the strain it caused on her family.

Basinger said, "That experience was so much more painful for me to watch the people who love me, like my husband, my sister, watch me go through it. For me, it was not me. It was like a persona, a Goodyear blimp was up there happening to her, but it wasn't happening to me."

She continues, "I lost everything. Every single thing. Nothing good came out of it, as far as the relationship with my family."

Basinger would go on to admit that she wasn't on talking terms with her mother either at the time.

The moment can be seen at the 9:30 mark below.

This begs the question, why was Kim Basinger so adamant about leaving the film, Boxing Helena? According to reports, a lot of it had to do with her Hollywood peers.

Problems Emerged For Kim Basinger After She Was Told By Her Close Peers To Get Out Of Boxing Helena

Back in 1993, Basinger told the court why she refused the script. Basinger felt from the start that it was a strange script, and the most bizarre she had ever read. The character had no arms and no legs, and was just a head. Right from the start, Basinger struggled to connect.

“When I read the piece,” Basinger said, “I just felt I had to meet the mind behind this idea.”

Basinger backed out just prior to production, and put Main Line Pictures in a huge hole worth $6.4 million. The LA Times reported that Basinger was being urged to back out of the film by respected peers in fear the project would destroy her career.

The publication wrote, "But she said concerns surfaced when she passed the script around “to 15 or 20 people I admire (in the entertainment industry) and the overwhelming response . . . was, this was a joke.”

"She said her agent at the time, Guy McElwaine of ICM, warned her that if the film was made, “tomatoes would be thrown against the screen.” ICM has been accused in the suit of encouraging her to drop out of the film."

There was also a question about nudity in the film that Basinger took issue with, and also went unresolved. Ultimately, Basinger lost the court battle and filed for bankruptcy. These days, her net worth has climbed back up to $20 million.

Kim Basinger Spent $3 Million Years Later On Legal Fees For Her Court Battle Against Ex-Alec Baldwin

It was a nasty divorce between Alec Baldwin and Kim Basinger. The two had no prenup at the time, and fought for the custody of their only child, Ireland Baldwin. It took a year to reach an agreement, and cost Basinger $3 million in legal costs alone. Basinger revealed in 2016 that things were "cool" with Baldwin. However, the divorce was a terrible process.

"Divorce is hard on a kid, no matter how you cut it," the actress said. "And ours was very public and nasty. So I brought up Ireland in a very unconventional way. I just wanted her to be free. If she wanted to have her friends over and write over the walls with pen, that was fine. I wanted her childhood to be full of love and light and animals and friends."

From bankruptcy to divorce settlements, Basinger clearly knows a thing or two about dealing with hard times.