Since their 2017 divorce, Peter Thomas and Cynthia Bailey have managed to maintain a cordial relationship. So cordial in fact that she felt comfortable loaning him thousands of dollars.
But you know what they say about loaning friends and family money…it’s a risk.
And according to Showbiz Cheat Sheet, it’s one that has come back to bite Bailey in the butt a bit just as she’s beginning her new life with husband Mike Hill.
On the “Real Housewives of Atlanta,” we watched Peter open up the Bar One lounge in Atlanta. From the looks of things on the show, the lounge seemed to be doing well. But due to some shady activity from the landlord, despite Peter’s on-time payments, the property was foreclosed.
Thomas vowed to open up a new location for Bar One. And Bailey loaned him the money to do so.
She spoke about the loan in a 2017 interview with ESSENCE, “…we actually have unfinished business. I’m his partner at Bar One Atlanta. We’re building it out now. This was a project that we started while we were together, and we kind of put it on hold while we were kind of not liking each other so much.”
Sadly, they weren’t able to get things sorted out amongst themselves and Bailey has taken the matter to court.
According to Showbiz Cheat Sheet, Bailey has filed a lawsuit against Thomas seeking to recoup the $170,000 she lent him in order to purchase the new space.
Bailey’s name is on the deed for the building which sadly is also now in foreclosure as well.
Documents show that Peter is set to start making payments to Bailey in January 2021.
Hopefully, they’ll come to a resolution.