The fashion designer who created Beyonce’s Super Bowl XLVII halftime lace-and-leather bodysuit is being sued by investors. On February 3th, 2013 at the Mercedes-Benz Superdome in New Orleans, Beyonce worked the crowd with special guests, Kelly Rowland and Michelle Williams from Destiny’s Child. The designer, Rubin Singer made headlines immediately after Queen Bee shined in his iguana, python and lace ensemble.
Wistfully, rough news have circled back to the program. The couture designer, now owes a group of investors more than half a million dollars in seed money that has yet to be paid. Click here for a photo of the two. The designer, Rubin Singer originally loaned the money – an estimated of $560,828 – from a group of investors who assisted in purchasing fabric and covering other business expenses to launch his fashion brand, according to the Manhattan Supreme Court lawsuit. The loan was made between 2008 and 2010.
According to documentation filed in the Manhattan Supreme Court, one lender by the name of Keith Kaplan recommended Singer to the fashion director of Neiman Marcus, where Singer’s ensembles are currently being sold. Another lender, Michael Lehr, worked for equity in Singer’s original company, RSI, loaning the designer an estimated $160,000, which still hasn’t been repaid leading to a disruption upon Lehr’s credit.
“RSI did not follow corporate formalities. Meetings of shareholders were not held. Minutes were not kept….RSI’s assets were intermingled with Singer’s assets and Singer’s personal expenses were paid by RSI. Singer refused to allow RSI expenses and revenues to be tracked,” the group’s attorney, Jesse Strauss, says in court papers.
Singer cannot be reached for comment.
Text reference via Daily News and photo reference via TheFaceHunter