She said: "The case also cost millions of dollars in lawyers' fees. A plumber would make more money than you get working on Neighbours." But that's all just a bad memory now as Holly, 25, makes her Hollywood big screen debut in the Liam Neeson thriller Taken.
Holly, who plays singer Diva, said: "Taken is a great script.
She was forced to drop the plan when the legal fight took all her money.
But even then Holly showed the same feisty spirit as her former Neighbours character Flick Scully.
Although I wasn't keen on playing a pop star in movies - a bit too ironic - I really wanted to be in a film with Liam Neeson." Neeson is a former spy whose daughter, played by Maggie Grace, is abducted by a sex slave ring.
Holly said: "We shot in Paris, which is one of my favourite cities, and I had a lovely few scenes with Mr Neeson, who was a lot of fun.
Pop beauty Hol Ly Valance has told for the first time how she went broke - just as she hit the music bigtime.
Holly, then only 19, had to pay out 350,000 Australian dollars - about £140,000 - after her former manager sued her, claiming she tried to walk out on her contract.
I thought, 'It is just a number in a bank account - now you see it now you don't'.
"He is a true professional and has a wicked sense of humour.
I found him to be a gentle giant." Hollywood fame should help the Melbourne-raised actress actress fulfil her dream of buying her mum a house.
She had come to Britain to storm the pop world - and a succession of big-selling singles, including her No 1 Kiss Kiss helped pay her debts.Holly shrugged: "I had to think of it as a new beginning.