By EW Staff
Updated June 11, 1993 at 04:00 AM EDT

Can Kim Basinger afford the $8.9 million in damages an L.A. Superior Court ordered her to pay for backing out of a verbal agreement to star in Boxing Helena? Not according to papers she filed with U.S. Bankruptcy Court in California. The petition, submitted by one Kimila Ann Basinger, lists nearly $5 million in assets, including a single-family residence in California ($1 million), personal goods and furnishings ($592,000), and jewelry ($192,000). She claims $11 million in debt (including the Helena judgment and a $911,300 bank loan), plus $43,000 a month in such expenses as alimony to her ex ($9,000). As for tiny, rural Braselton, Ga., most of whose land Basinger and a number of partners bought in 1989, ”I don’t think Braselton will be affected one iota by the bankruptcy,” says Jeff Forrester, owner of Dado’s Cafe. ”And I don’t blame Kim Basinger for trying to get out of the money she got sued for. That movie was so rough, Madonna didn’t want to do it.”