Young Buck Faces Liquidation After Filing Bankruptcy
Former G-Unit member Young Buck is continuing to struggle through tough financial times.
According to reports, Young Buck, real name David Darnell Brown, is facing Chapter 7 liquidation after filing bankruptcy last year.
Reports state that the Tennessee rapper's assets will be sold and distributed among his creditors.
Chapter 11 trustee Jeanne Burton has been working since January to help Buck's situation.
Burton attempted to have Buck's recording contract with 50 Cent and G-Unit Records and distribution contract with Universal Music group modified.
G-Unit and UMG both opposed Burton's plan, as 50 and Buck are still in contractual disagreement.
“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.
“The trustee believes and therefore asserts that there is no reasonable likelihood of reorganization at this point.”
It must suck to be Young Buck right about now.
No comments:
Post a Comment