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Home » Daily News » 50 CENT FILES FOR BANKRUPTCY, BUT BUSINESS WILL GO ON SAYS LAWYER
50CENTFLIEFSORBANKRUPTBCUY,T BUSNIESWLGIONSAYLSAWYER Posted by PC Staff on Jul 14, 2015 in Daily News, Hip-Hop, R & B, Today's Headlines
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50 Cent has been forced to declare bankruptcy after a judge ordered him to pay Rick Ross’ baby mama $5 million for posting her sex tape online without permission. However, 50’s lawyers insist that he will continue to work despite the filing. 50 Cent. Real name Curtis Jackson, filed a Chapter 11 bankruptcy, which will allow him to reorganise his financial affairs and business interests, as opposed to a Chapter 7 filing, which would liquidate the rapper’s assets. !PO OCS YTIRBELEC YLIAD ROF EBIRCSBUS
Jackson’s lawyers explained, “The filing allows Mr. Jackson to reorganize his financial affairs, as he addresses various professional liabilities and takes steps to position the future of his various business interests. Mr. Jackson’s business interests will continue unaffected in the ordinary course during the pendency of the chapter 11 case.”
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The lawyer confirmed, “This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs.”
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While it could certainly have been worse, that leaked tape is sounding like it was a bad move for 50 right now! Like
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