Young Buck's Debt Repayment Plan Shut Down By 50 Cent's Lawyer
50 Cent’s Lawyers File Objection To Young Buck’s Debt Repayment Plan
Young Buck apparently needs a few bucks and may be kicking himself for parting ways with 50 Cent and G-Unit right now. His debt repayment plan is being objected by 50 Cent’s lawyer because they are unsure if he can make the payments.
Buck is a debtor that has filed for bankruptcy protection but The Wall Street Journal reports that he had some trouble submitting information about his tour bookings and how he was getting paid.
Jaqueline Palank of the Journal reported, “This troubles creditors like 50 Cent, his lawyers wrote in court papers, because it raises the concern ‘as to whether any creditor can truly rely upon these claims and projections by the debtor.’”
The former G-Unit soldier is also contractually tied to the label and has had a second thought about trying to leave since it could result in more debt.
“If the debtor defaults under the recording agreement, and/or rejects the recording agreement, G-Unit would maintain a claim for damages flowing to it as a result of the debtor’s failure to perform under the recording agreement in an amount believed to be not less than $10,000,000,” The Journal reports.
Maybe 50’s cold heart will melt and he’ll give his old homie a break. Then again, he would probably lie and tape the conversation.