This is false,bankruptcy claims do not excuse you from having to pay up if one has lost in a lawsuit. It only gives time for someone to reorganize their debts and balance their books.The only thing bankruptcy does is decide which assets,accounts, or investments can be deemed usable for compensation.
LOL I know for a fact you are not a lawyer since you don't even know what contingency fee agreement means.
Its true just because you file for bankruptcy doesn't mean you are broke.People are saying Donald Trump did this but the was for Donald Trumps corporations and his holding companies.50 has filed for Chapter 11 bankruptcy ,on a business basis and personal basis,which means his lines of credit are going to be limited in the future. If 50 was worth $155 million he would be able to liquidate $5 million on hand, but lets just give him the benefit of the doubt.
The Bankruptcy claim is not going to be the best bet for him, cause now they audit Fifty's which means he is going pay more money to Uncle Sam,and he is chances of cloaking his revenue and assetts from Uncle Sam are not going to be so smooth in the future. Plus Fifty's credit would be ruined ,and that means his buisnesses will suffer from it as well. 50's business have not been faring well either, I don't know why people think just because Fifty had endorsement deals means Fifty is a good businessman. Fifty's SMS Audio and his boxing managment company are not taking off,like his Vitamin Water endorsement and Reebok deals did years ago.And the only reason they did was because he was a good catch and an icon, Fifty's star status has diminished today and this is why his new ventures are not big blockbusters since he has lost rap fans..His Cheetah films are straight to video films that are flop bound,I'd rather look at softcore videos made in the 90s.
