FORMER Baywatch star Pamela Anderson is drowning in debt. The 42-year-old owes $1.1 million to various construction companies for remodelling work on her Malibu home as well as back state taxes, Los Angeles County records show. According to the documents, five different construction companies have filed cases against her home, the largest being $674,043 for labour and materials to remodel the main house, and build a swimming pool and foundations for a guest house. She also owes $252,360.39 in back state taxes and penalties for 2007, reports HT