Frontman owes Cessna nearly £467,000 following 2007 purchase
Light aircraft manufacturer Cessna are taking legal action against Dexter Holland of The Offspring over a sum of nearly £467,000 he owes for a plane he purchased from them.
The vehicle was purchased by Holland in 2007. However, he was unable to make the payments, which led to Cessna striking a deal with the frontman in which he would sell the plane and pay back the remainder of the sum owed at a later date. Holland is also reported to have offered another two planes he already owned as collateral in the deal.
According to TMZ, Holland has not made a payment to Cessna in over a year, with his last instalment arriving in April 2013. Now the company is taking legal action to get their money back.
As of April 21 this year (2014), Holland’s company, Jet Racers, Inc., owed £466,978. This includes £19,000 in interest and £9,300 in late fees. The singer was to pay 71 monthly payments of £5,200 with one final balloon payment of £235,000 as part of the deal struck following his initial failure to pay for the plane.
The Offspring are currently touring around the 20th anniversary of their album ‘Smash’ and will perform at this year’s Download Festival in June alongside headliners Aerosmith, Avenged Sevenfold and Linkin Park.