Fashion Helping Fashion
Betsey Johnson has defaulted on a $48.8 million loan to her company. According to Front Row Daily, Steve Madden came to the rescue and paid off the loan for her. Betsey Johnson has until August 20, 2010 to repay the loan, if not paid in time, Steve Madden might take control of the company - Steve Madden currently holds licenses for accessories under the Betsey Johnson and Betsyville brands.
Paris Hilton: With More Legal Problems
Many people have still been talking about Paris Hilton's incident with the police where she was arrested for possession of cocaine and marijuana, while her boyfriend Cy Waits was arrested for DUI. Paris continues to deny any accusations about the incident and claims to have willingly cooperated with the authorities - But many pictures surfaced the internet with Paris Hilton holding an open purse at a club, revealing what seems to be cocaine. Paris claims that it wasn't her purse, and that she was just holding on to it - while her friend was in the restroom (sure, Paris). In other Paris Hilton related news, Florida U.S District Judge, Federico Moreno, ruled that Paris owes $160,000 to film makers of the flop film "Pledge This", because she failed to do British and Russian interviews supporting the film.
Guidice Family In Financial Collapse
It seems as if Teresa and Joe Giudice have not learned their lesson when it comes to being financially responsible - especially when they're being publicly humiliated by the media regarding their bankruptcy and continued heavy spending. Just recently, U.S Trustee, Roberta A. DeAngelis, has filed a petition against the Guidice's bankruptcy with claims of many "falsehoods" in their filing. Just one week before filing for chapter 7 bankruptcy, Teresa took out an advance of $250,000 for her cookbook "Skinny Italian". The petition also addresses many of Joe's "omissions", including property, bank accounts, as well as false income tax reports to the bankruptcy court.
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