50 Cent To File For Personal Bankruptcy So He Doesn't Have To Pay Sex Tape Lawsuit?

[Jax]

Be a c00n brehs
On the real doe,I think fiddy wasted all his money on failed investments.

 

[L&HH]

if he invests all of his money in his businesses and then files for bankruptcy, can't the people he owes money to grab the equity in whatever he owns in order to compensate themselves?

He's filling for chapter 11. Their purpose is to allow him time to reorganize his assets/debts and extend the time he has to pay up. He'll have to come up with. 5 year plan on when he can't his debts, which include this lawsuit. Then after 5 years is up, whatever he hasn't paid will be discharged and he'll have to pay a much smaller amount. They're just trying to make it hell for her to collect.

 

[jilla82]

lol @ this dude trying to tell someone what they should post on the internet because "there are some black people out here poor"

With that same mentality none of us should post shyt we buy...or talk about it because there are people out there that cant afford food.

Some of these folks take this nonsense too far.
He seems like he doesnt want to give props to anybody unless they look at life exactly like him

fukk out of here...if I had 9 figures I would stunt a little too.
How about you all step your self esteem game up and realize you can make money too if you want to.
Stop worrying about what 50, Ross, Jay etc... are doing and get your own.

Its not only black folks that do it

2:25

 

[re'up]

Given that I know 50 is a ruthless, maniacal, vindictive at times highly unreasonable and fiscally conservative I am not unwillingly to believe he would go to this length to avoid paying the 5 million dollar judgment....unwisely, imo, but I'm the type who would rather lose the (relatively) small amount of money, then go through a bullshyt judicial process, when I could be enjoying my life, thats the joy of money, (when you have it) you just throw it at someone and keep moving, you use it to finance a life of leisure....but, to 50, he's one of those true capitalist businessmen who doesn't have a life outside of work, from what I can tell.

However, even with all that, 50 would rather declare bankruptcy chapter 11 then pay the 5 million...despite how that looks to the business world, to the entertainment world, the fans, and how it could possibly affect his future dealings and brand?

 

[S.W.A.G.]

From the guardian:

"it would appear that Mr. Jackson filed for personal bankruptcy for three important reasons: #1) To prevent the judgment creditor (Lavonia Leviston) from being able to disrupt his business operations and place liens on his assets. #2) To force the creditor to the negotiating table to bring the $5 million judgment down. And #3) To prevent the jury in the sex tape case from being able to award Ms. Leviston further punitive damages."

 

[Turbulent]

He's filling for chapter 11. Their purpose is to allow him time to reorganize his assets/debts and extend the time he has to pay up. He'll have to come up with. 5 year plan on when he can't his debts, which include this lawsuit. Then after 5 years is up, whatever he hasn't paid will be discharged and he'll have to pay a much smaller amount. They're just trying to make it hell for her to collect.

props on the knowledge
EDIT: it kinda sounds like what we call in canada a "Consumer Proposal". i don't think it's the exact same rules but it's a similar concept right down to the 5 year plan.

 

[Kitsch]

lol @ this dude trying to tell someone what they should post on the internet because "there are some black people out here poor"

With that same mentality none of us should post shyt we buy...or talk about it because there are people out there that cant afford food.

Some of these folks take this nonsense too far.
He seems like he doesnt want to give props to anybody unless they look at life exactly like him

fukk out of here...if I had 9 figures I would stunt a little too.
Its not only black folks that do it

2:25

I just posted the video (people requested it ITT), I don't necessarily agree with him.

 

[blackzeus]

he probally only keeps 1-5M liquid in a personal account accessible at all times, when he heard his last personal stash would be forfeited , ******s got to filling em papers.

However, even with all that, 50 would rather declare bankruptcy chapter 11 then pay the 5 million...despite how that looks to the business world, to the entertainment world, the fans, and how it could possibly affect his future dealings and brand?

That's all I've been tryin' to say /thread

 

[Diondon]

The show is actually very good and is the top show on starz. he will eat well off this show no doubt.

Oh Im not talking about the show, I like the show
I meant Curly's acting lol

 

[SpacelySprockets]

Be a c00n brehs
On the real doe,I think fiddy wasted all his money on failed investments.

That's a behind the scenes pic from his show Power

 

[Sensei]

He's filling for chapter 11. Their purpose is to allow him time to reorganize his assets/debts and extend the time he has to pay up. He'll have to come up with. 5 year plan on when he can't his debts, which include this lawsuit. Then after 5 years is up, whatever he hasn't paid will be discharged and he'll have to pay a much smaller amount. They're just trying to make it hell for her to collect.

Her payments will not be discharged.Its a secured debt,only unsecured debts are excusable.

 

[Cloud Cloud]

He's filling for chapter 11. Their purpose is to allow him time to reorganize his assets/debts and extend the time he has to pay up. He'll have to come up with. 5 year plan on when he can't his debts, which include this lawsuit. Then after 5 years is up, whatever he hasn't paid will be discharged and he'll have to pay a much smaller amount. They're just trying to make it hell for her to collect.

Bruh no offense, but please stop spreading this filth you are reading off REDDIT as expert fact.


Every major news corporation in the world is covering this: Fox, CNN, CNBC, WSJ, NY Times etc etc....


And here you are posting shyt from reddit and passing it off as fact. Just stop. ctfu.


If you gonna pass details, get it from a credible source.

 

[Cloud Cloud]

Her payments will not be discharged.Its a secured debt,only unsecured debts are excusable.

He getting his info from reddit

 

[Jax]

That's a behind the scenes pic from his show Power

I didn't find the car pic

 

[Vilify]

Doctor Watkins just pretty much said this in the video. Fif having financial trouble. "Liquidity" problems.


I'm sorry, but to me, if a lot of yo shyt aint liquid, you aint rich to me. This just my personal opinion.


Floyd show a receipt where he got $100mil in the BANK. Of course he still got houses, and cars, and businesses and all that shyt... But he still got $100mil in the BANK.


Fif, and other "rich people" like him, networth is an illusion.... shyt is like fairy dust if you can't pull wild money out the bank or stocks / bonds.


Broke millionaire problems

That's not Floyds atm receipt. It belongs to some hedge fund manager David Tepper.

I don't know if they know exactly, when you are worth that much it's approximations.

Puff has said that he's worth a billion dollars a couple times, Jay said take what the Forbes figured and figure more.

I just don't know why Forbes would under or overestimate anyones wealth, it's not like they are friends with these people. Why would they overestimate Rick Ross's net worth, a dude that date rapes women in his songs. And why would they only do it for black people? Is this self hate or do you have some agenda regarding rappers?

It's not just black celebrities all celebrity net worths are estimates based on lousy metrics. It's only published for entertainment value nothing else nothing more.