Posted by , Mar 10, 2016 at 11:31am
50 is still on the hook for a lot of money.

50 Cent struck a deal with his creditors Wednesday afternoon in a Hartford federal court that could potentially spring him from bankruptcy. Under the terms of the agreement, he is on the hook to pay his creditors as much as 74% as much what he originally owed them. The deal still requires a stamp of approval from a federal judge.

As of last July, 50 owed his various creditors $28 million, including $18 million to Sleek Audio. That reported number does not include the $7 million settlement with Lastonia Leviston for narrating her sex tape and posting it online. As a part of his new bankruptcy agreement, he would lose the right to appeal that verdict.

50 alleged that the cash he used to spell out the word "BROKE" in an Instagram photo was fake. Holley Claiborn, U.S. Bankruptcy Trustee for Connecticut, insisted that his use of allegedly fake cash in the Instagram photo raises concerns about his "credibility." After the court proceedings adjourned on Wednesday, he posted a since-deleted Twitter picture of him with wads cash stashed into his belt and the caption, "I had to go to court today because."

He also went after the New York Times on Instagram... vintage 50.

[via]

50 Cent Reaches Bankruptcy Agreement With Creditors

50 is still on the hook for a lot of money.


50 Cent struck a deal with his creditors Wednesday afternoon in a Hartford federal court that could potentially spring him from bankruptcy. Under the terms of the agreement, he is on the hook to pay his creditors as much as 74% as much what he originally owed them. The deal still requires a stamp of approval from a federal judge.

As of last July, 50 owed his various creditors $28 million, including $18 million to Sleek Audio. That reported number does not include the $7 million settlement with Lastonia Leviston for narrating her sex tape and posting it online. As a part of his new bankruptcy agreement, he would lose the right to appeal that verdict.

50 alleged that the cash he used to spell out the word "BROKE" in an Instagram photo was fake. Holley Claiborn, U.S. Bankruptcy Trustee for Connecticut, insisted that his use of allegedly fake cash in the Instagram photo raises concerns about his "credibility." After the court proceedings adjourned on Wednesday, he posted a since-deleted Twitter picture of him with wads cash stashed into his belt and the caption, "I had to go to court today because."

He also went after the New York Times on Instagram... vintage 50.

[via]

Comments

101
ADD COMMENTView Comment Thread