young buck...damm 50's rapin him
- Thread starter UGT
- Start date
Young Buck Assets Face Liquidation
Rapper Young Buck is due in court today, where the fate of his assets will be decided by a bankruptcy court.
According to WKRN Channel 2, in Nashville, a number of the rapper’s possessions could be liquidated today (December 20).
The liquidation is an attempt to satisfy his $300,000 thousand debt to the Internal Revenue Service (IRS).
The IRS raided Young Buck’s home in August of 2010 and seized a number of his valuables, including his recording studio.
But Young Buck has had issues paying off the debt, due to his contractual obligations to 50 Cent’s G-Unit imprint.
50 Cent and G-Unit are one of the creditors Young Buck owes money to.
According to Young Buck’s bankruptcy trustee Jeanne Burton, 50 has opposed the rapper’s reorganization under Chapter 11, which is forcing the liquidation.
50 is refusing to release any of Young Buck’s new material, because of a $171,000 debt to G-Unit.
During the bankruptcy proceedings, 50 also filed a $10 million breach of contract lawsuit against Young Buck.
In March of 2011, 50 sued to prevent Young Buck from recording for any other label, due to his contractual obligations to G-Unit.
Young Buck, born David Brown, had hoped to reorganize his finances under Chapter 11 bankruptcy protection.
But Jeanne Burton, the trustee for Buck’s estate, recently recommended that he filed Chapter 7, meaning his assets can be liquidated to satisfy his tax bill.
“At this time, because no agreement has been reached with G-Unit and Curtis Jackson regarding either assumption or rejection for the recording agreement and/or the publishing agreement, the first amended plan cannot be confirmed,” Burton said in previously filed court papers. “The trustee believes and therefore asserts that there is no reasonable likelihood of reorganization at this point.”
An associate of Young Buck is also accused of diverting performance from the rapper and depositing it into an unauthorized bank account, on behalf of Cashville Records.
Rapper Young Buck is due in court today, where the fate of his assets will be decided by a bankruptcy court.
According to WKRN Channel 2, in Nashville, a number of the rapper’s possessions could be liquidated today (December 20).
The liquidation is an attempt to satisfy his $300,000 thousand debt to the Internal Revenue Service (IRS).
The IRS raided Young Buck’s home in August of 2010 and seized a number of his valuables, including his recording studio.
But Young Buck has had issues paying off the debt, due to his contractual obligations to 50 Cent’s G-Unit imprint.
50 Cent and G-Unit are one of the creditors Young Buck owes money to.
According to Young Buck’s bankruptcy trustee Jeanne Burton, 50 has opposed the rapper’s reorganization under Chapter 11, which is forcing the liquidation.
50 is refusing to release any of Young Buck’s new material, because of a $171,000 debt to G-Unit.
During the bankruptcy proceedings, 50 also filed a $10 million breach of contract lawsuit against Young Buck.
In March of 2011, 50 sued to prevent Young Buck from recording for any other label, due to his contractual obligations to G-Unit.
Young Buck, born David Brown, had hoped to reorganize his finances under Chapter 11 bankruptcy protection.
But Jeanne Burton, the trustee for Buck’s estate, recently recommended that he filed Chapter 7, meaning his assets can be liquidated to satisfy his tax bill.
“At this time, because no agreement has been reached with G-Unit and Curtis Jackson regarding either assumption or rejection for the recording agreement and/or the publishing agreement, the first amended plan cannot be confirmed,” Burton said in previously filed court papers. “The trustee believes and therefore asserts that there is no reasonable likelihood of reorganization at this point.”
An associate of Young Buck is also accused of diverting performance from the rapper and depositing it into an unauthorized bank account, on behalf of Cashville Records.
Yall obviously missed the line where he said "Understand I dont bite the hand that feed me but I will if it say it dont need me". 50 mad cuz he got obliterated on this track, biggest L he took as far as his rap beefs go. Buck talked shit about Game for biting the hand
[video=youtube;5iv6qu3C3BQ]http://www.youtube.com/watch?v=5iv6qu3C3BQ[/video]
[video=youtube;5iv6qu3C3BQ]http://www.youtube.com/watch?v=5iv6qu3C3BQ[/video]
Now thats what I call a Boss Move on 50's part.
I dont feel sorry for buck imo he brought it all on himself trying to think he a big shot and was gonna end 5 career. He shouldve not bit the hand that feed him. 50 does take care of muhfuckas thats loyal to him look at Tony Yayo & Lloyd Banks they still millionaires.
I dont feel sorry for buck imo he brought it all on himself trying to think he a big shot and was gonna end 5 career. He shouldve not bit the hand that feed him. 50 does take care of muhfuckas thats loyal to him look at Tony Yayo & Lloyd Banks they still millionaires.