Secret Entertainment Today: Rapper 50 Cent decision of the court has ceased to be bankrupt

Thursday, February 2, 2017

Rapper 50 Cent decision of the court has ceased to be bankrupt – TASS

NEW YORK, 3 Feb. /Offset. TASS Alexey Kachalin/. A Federal court in Connecticut dismissed the case of financial insolvency of the famous music artist in rap Curtis James Jackson, known by his stage name 50 Cent. He paid creditors more than $ 22 million and is now not considered to be bankrupt.

As reported in the journal Rolling Stone, the rapper has repaid the debts due to $ 8.7 million from its own funds and $ of 13.65 million received in compensation by the court, does not apply to this case.

50 Cent has announced its bankruptcy in July 2015. Then he said that his assets do not exceed $ 20 million and debt increased to $ 36 million . Two months before Forbes magazine estimated the rapper as $ 155 million , which put him in fourth place in the list of the richest musicians.

the Appeal under article 11 of the U.S. code on bankruptcy was followed by the court just three days after against the winner of the award “Grammy” was the judgement on payment of $ 5 million in compensation some Lastonia Lewiston for the dissemination of discrediting information.

in addition, according to the online edition of TMZ, 50 Cent lost in court another case in which he had to recover about $ 17 million .

the provisions of article 11 of the code of the United States bankruptcy code apply in cases when companies or individuals are not able to pay the debts and petition to the court about their restructuring. Asset management in the process, can perform as appointed by the Manager and the debtor.

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