This is what Lebo M actually meant when he said he was bankrupt

Lebo M. Image: Instagram

Lebo M. Image: Instagram

Sources claimed the Lion King producer owed money to many people and had not paid them because he was broke.

Lebo M has slammed reports that he is broke, explaining exactly what he meant when he filed for bankruptcy in the US.

In June, Sunday Sun reported that Lebo M was struggling financially after getting married for the sixth time and divorcing his wife again. They first got married in 2009 and called it quits in 2013 and remarried again last year.

The paper said sources had revealed that Lebo M was broke, and was being taken to court by one of his ex-wives. He apparently was in debt and had not made payments to people he allegedly owed money to. This then led to him filing for bankruptcy in Los Angeles, US.

However, Lebo M told Tshisa LIVE he was not broke and that he filed for bankruptcy because he had a change in financial structure.

“There is a difference between bankruptcy and chapter 11. I am happy. There was a need to realign the financial structure in Los Angeles based on a number of things, but it was a strategic realignment. It was a rearrangement of an incoming new infrastructure that is handling my business management,” Lebo M said.

He also spoke about his next tour, which will open around the world and run for two years.

“I am excited about the 20th anniversary of The Lion King, but very frustrated that it won’t open in South Africa. I spent the last six years negotiating for the anniversary, but even with the success of the project [overseas and historically] we couldn’t convince business or government to bring The Lion King back.”

Lebo M to divorce wife for second time, finds love again

 

 

 

 

 

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