Back in June, it was revealed that Young Buck's music catalog would be heading off to auction later in the summer. The auction intended to help the performer pay off those he was in debt to, including 50 Cent. Reportedly, he owed Fif roughly $250K for failing to deliver on his end of a G-Unit contract.
The auction went on as planned later that month, with Middleton Open Season Partners securing the catalog with a $740K winning bid. In a turn of events, however, another bidder objected to the win, claiming that they'd be willing to pay more for Young Buck's catalog. Structured Asset Sales didn't participate in the original auction, and allegedly didn't contact the broker until December. Now, Open Season’s lawyer Justin Campbell is seeking validation of the purchase from a Tennessee court.
Open Season Defends Their Winning Bid In Young Buck Auction
“Structured Asset Sales is nothing more than a disgruntled potential bidder,” the lawyer writes, “Structured Asset Sales, through its principal [David] Pullman, received the Solicitation Email and made no efforts or attempts to contact the Broker or to participate in the bidding process for the Property.”
He continues, “Structured Asset Sales finally discussed the Property with the Broker in mid-December, almost six months after the Solicitation Email was sent and almost two weeks after the Sale Motion was filed. Structured Asset Sales, now realizing that it slept on its opportunity to participate in the bidding process, seeks to object to the Sale Motion and disrupt the private sale to Open Season. The Sixth Circuit Court of Appeals, as well as multiple other lower courts in the Sixth Circuit, have stated that frustrated bidders do not have standing to object to the sale of the property.” What do you think of the bidding war over Young Buck's music catalog? Which bidder do you think is in the right? Share your thoughts in the comments section down below, and keep an eye on HNHH for more updates.
