Insolvency Guardian Media Centre
NBA Player Malik Beasley’s Mounting Debt To Barber, Dentist & Sports Agency Revealed As He’s The Subject Of Federal Gambling Investigation
Court documents reveal that Malik Beasley owes tens and thousands of dollars to a celebrity barber, dentist and his former sports agency.
He was first sued by Cairo Cuts, based in Milwaukee when he played for the Bucks. The barbershop won a $26,827 judgment against Beasley in January.
He also owes Dr. Hassan Alshehabi of Delicate Smiles in Minnesota $34,390 after a default judgment. Beasley previously played for the Timberwolves as well.
Alshehabi had already begun garnishing Beasley’s wages from his income with the Pistons, however, the debt still remains unpaid, court docs say.
In…
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The Congress of South African Trade Unions (COSATU) presented its submission on the 2025/6 Budget’s Appropriation (allocations to national government) and Eskom Debt Relief Amendment Bills to Parliament’s Standing Committee: Appropriations.
The Federation welcomes the positive increase in funding for critical and economic infrastructure, with an additional R34 billion bringing total infrastructure investments over the next three years to a total of R1.03 trillion. This includes roads (R402bn), water (R156bn), plus investments in rail, ports, and four new hospitals in Limpopo and the Westen Cape and 13 000 university beds. The R12.7 billion investments in Metro Rail will be a boost to 10 million workers across the…
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SINGAPORE – The daughter of bankrupt former Hin Leong Trading director Lim Chee Meng failed in a bid to shield three AIA Singapore insurance policies worth over half a million dollars from being part of Mr Lim’s bankruptcy estate.
Ms Michelle Lim Yan Yi, the granddaughter of Hin Leong founder Lim Oon Kuin sought a High Court declaration that the three policies, worth over $521,000, should be ring-fenced from creditors’ reach because they were held on trust for her benefit by her father, who was declared bankrupt in December 2024.
The three policies are part of a set of eight insurance policies with AIA that Mr Lim Chee Meng had taken out when Ms Lim was a minor, under which he was the policy owner and she was the named insured.
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SMEs accounted for 98.5% of insolvencies in the first half of 2025 – Deloitte Business Post
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In a major setback for Anil Ambani, the former director of Reliance Communications Ltd (RCOM), the State Bank of India (SBI) has classified the company’s loan account as “fraud.”
The bank is now gearing up to report Ambani’s name to the Reserve Bank of India (RBI), stirring fresh controversy around the telecom giant’s financial dealings.
This follows a similar move by Canara Bank in November 2024, which was temporarily halted by the Bombay High Court.
Here’s everything you need to know about this unfolding controversy.
What’s the fraud allegation?
SBI, in a letter dated June 23, 2025, informed RCOM that its Fraud Identification Committee has flagged the company’s loan account as fraudulent.
The decision comes after forensic…
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The Supreme Court on Wednesday directed Lodha Developers, which acquired V Hotels Limited through an insolvency process, to deposit Rs 520.8 crore within four weeks to vacate the Enforcement Directorate’s attachment of land parcels worth Rs 4,000 crore.
The Apex Court passed the verdict on a petition filed by the national agency, challenging the Bombay High Court order that quashed ED’s money laundering case against V Hotels and set aside the provisional attachment of 12 of its properties in Mumbai.
The matter pertained to the action taken by ED against V Hotels, owner of Tulip Star, formerly known as the iconic Centaur Hotel in Juhu. The agency had provisionally attached…
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In a letter dated June 23, 2025, SBI said that it issued a show cause notice to the company via letters in December 2023, March 2024 and September 2024.
After taking cognisance of Reliance Communications’ response, SBI concluded the company could not explain non-adherence to terms and conditions of the loan.
The company also did not explain non-adherence to irregularities in conduct of account to the bank’s satisfaction.
Hence, SBI’s fraud identification committee decided to classify the account as “fraud”.
The bank will take action to report the names of Reliance Communications and Anil Ambani to the…
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The one Reliance company that failed MSN
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New Delhi, Jul 2 (PTI) Lodha Developers Ltd has been directed to deposit Rs 520.80 crore as security in relation to an ongoing case in the Supreme Court against V Hotels Ltd, which the company acquired last year through an insolvency process.
In a regulatory filing on Wednesday, Lodha Developers Ltd informed that this matter is related to proceedings initiated by the Enforcement Directorate (ED) against the erstwhile promoter of V Hotels Ltd (VHL). This was in relation to a transaction of Rs 520.80 crore, allegedly routed through VHL before the start of the insolvency process.
Lodha expects that the matter will be heard expeditiously in the apex court and the deposit will be released.
In April last year, Lodha…
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A report to Norwich City Council’s cabinet blames changes to the housing market and economy for making its housing arm, Lion Homes, unviable.
The company, which is wholly owned by the council, was founded as Norwich Regeneration Limited in 2015 in the hopes of delivering more affordable housing and an additional income stream for the council.
However, the venture has faced strong criticisms and uncertainty in recent years, particularly after it emerged the company had lost £6m of taxpayer cash when homes in Bowthorpe were sold for less than they cost to build and the council was overcharged.
The cabinet is set to agree to liquidate the company at a meeting next week.
The move has sparked calls for an…
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World leaders gathered in Seville this week for the U.N.’s International Conference on Financing for Development have an immense challenge before them. The hope originally was to find the additional money needed to reduce poverty, promote growth and fight climate change. Now, the worry is that matters may get even worse than they already are. Aid cuts have thrown critical health and humanitarian work into turmoil, and economic uncertainty and unsustainable debt burdens are draining government budgets. This means there’s no money left to deal with pandemics, violent conflict, and the climate crisis, which in turn could destabilize societies everywhere. No country will be safe.
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UN aid meeting seeks end to Global South debt crisis France 24