Young Buck has been instructed that his catalogue could also be offered for about $700,000 — an quantity that the Trustee within the chapter case has knowledgeable him will fulfill all his excellent money owed.
According to court docket paperwork obtained by HipHopDX, trustee Erica Johnson submitted a court docket order for approval on Friday (December 7). In her order, Johnson proposed that the whole lot of Buck’s catalogue — together with his ASCAP catalogue and his Universal catalogue — be offered to a purchaser for a complete of $730,000. The purchaser, Middleton Open Season Partners I LLC, will obtain the rights to all of the works “free and clear of liens and/or encumbrances.”
In alternate for the acquisition, all of Young Buck’s excellent money owed — together with his previous little one assist, his T-Mobile invoice, and two Department of Treasury liens totaling almost $200,000 — might be cleared.
Despite earlier studies, 50 Cent is just not named as a creditor anyplace within the paperwork. What’s extra, the sale of the catalogues will nonetheless enable the Welcome to Cashville rapper to make some cash — simply not as a lot as he would if he’d owned the catalogues in full.
“Pursuant to the UMPG Agreement, the Debtor is entitled to receive royalty payments from UMPG relating to compositions that were written or co-written by the Debtor and delivered to UMPG,” reads the proposed order.
Check it out beneath.
Young Buck’s attorneys can have till December twenty eighth to file a “timely response” to the matter and to boost any objections they must the proposed sale of the catalogues. If his attorneys do, certainly, file a response, a listening to to find out the matter might be held on January 9, 2024, at 9:30 a.m.
It may, nonetheless, take weeks thereafter for the sale to be authorized by the decide, and for Young Buck’s chapter to be discharged.
Back in 2022, Young Buck blamed his former G-Unit boss, 50 Cent, for his most up-to-date chapter submitting.
“Once he stopped me from being able to make money, I filed another bankruptcy,” Buck mentioned. “They stopped him from being able to cease-and-desist in regards to me being able to, you know.
Young Buck Arrested For Allegedly Vandalizing Ex-Girlfriend’s Car
“I included what he claimed that I owed him in the bankruptcy to be able to say, ‘Well hey, if you’re owed this and present whatever receipts or whatever… You will be paid type of situation.’ But that was the only way I was able to go forward with working, so.”
As for the authorized issues with 50 Cent, Buck mentioned he’s not considering taking place that street along with his former rhyming accomplice.
“We at a standstill, I’m definitely not looking to go down a whole long drawn-out court situation, things like that, when it could all get handled and be done on a business level if we had that conversation to get that clarity,” he mentioned. “He could get whatever he’s looking for from me, I can get what I’m needing from him. I can move on with my life, and continue feeding my kids.
“He could do the same. Like I said, my biggest situation was the fact that he sent cease-and-desists out to try to stop all of my music, and get everything pulled down based on saying I’m still an artist on G-Unit.”
Discussion about this post