Young Buck Explains Chapter 13 Filing Alleged 50 Cent Lawsuit

Added: 02 September 2010 | Read 4158 times

Nashville, Tennessee rapper Young Buck has released a statement regarding his tax battle with the IRS and reports of a planned $5 million dollar lawsuit against G-Unit leader 50 Cent.

Young Buck filed for Chapter 13, which allowed the rapper to keep all of his possessions, as he pays back an estimated $12,500 per month, over the next five years.

“I was forced to file bankruptcy, not because I am broke. “ Young Buck said in a statement. “But because I have to get my finances back in order and deal with the contract situations I was in. Now I have a clean slate and full control over my own life and career.”

Representatives for Young Buck also confirmed his bankruptcy status has negated "any and all contractual obligations held by the filer, which in the case of Young Buck, includes his recording and publishing contracts with G-Unit Records, thus allowing him to shop for another deal."

Young Buck also shot down reports that he would be filing a lawsuit against 50 Cent, G-Unit and former manager Sha Money XL.

“Where did that rumor come from?! I have not filed suit against anyone, although, maybe that's not a bad idea," Young Buck said in a statement.


Comments


Rap4ever Youtube Channel


Latest News

thumbnail
Lil Scrappy Off To Rehab, Claims Addiction To Weed

Lil Scrappy is addicted to weed. At least, that’s what the rapper claimed in court today.

According to a report by TMZ, the rapper officially failed a court-ordered urine test.

full story

thumbnail
J. Cole Says He Changed The 'Born Sinner' Release Date To Compete With Kanye West

Upon announcing that he would move up the release of his sophomore album, Born Sinner, to June 18, Carolina emcee J. Cole caused quite the stir since the change means he’ll now be releasing an album on the same day as fellow rapper Kanye West.

Many questioned the move and Cole broke down exactly why he chose to change the release date for his album during an interview with Billboard.com. According to the Dreamville representer, he’d rather compete directly against Kanye’s Yeezus album rather than drop his project a week after the release of Yeezus.

full story

thumbnail
Slum Village Set To Release New Album 'Evolution'

Hip-Hop group Slum Village is set to return with their first LP in three years. After several shake-ups, original member T3 joined with Grammy-nominated producer Young RJ and J Dilla’s younger brother Illa J to record Evolution.

The latest project features guest appearances by Havoc of Mobb Deep, Blu, Raheem Devaughn, DJ Jazzy Jeff, and Big Pooh. Production credits include T3, Young RJ, and Focus.

full story

thumbnail
Chief Keef Arrested in Georgia

Teenage rapper Chief Keef was arrested for disorderly conduct in Dekalb County, Georgia. According to the police report, obtained by TMZ, Keef was busted for allegedly smoking weed at a fancy hotel.

full story

thumbnail
Eminem's Publishers Sue Facebook For Copyright Infringement, Ad Agency Responds By Attacking Dr. Dre

Eminem has sold over 80 million records worldwide, his last album was the first album to attain a million digital downloads and he’s basically everywhere. That does not mean he is willing to let just anyone use his music. Eminem’s publishing company, Eight Mile Style LLC has filed a lawsuit against the social media giant Facebook for unlawfully using an Eminem song for its Facebook Home application advertisement.

full story

see all news