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

O.G.B

O.G.B

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pete clemenza said:
I read somewhere- a long time ago that Trump always gets bailed out because if he were to go under alot of other people and businesses would go under as well. So there'll always be a contingent of people with weatlh and connections that'll extend him a safety net if he were to f*ck up and be on the brink of losing it all
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This is very true, but Trump also has a well established business lifeline of sorts based on his previous history which allows him to form new partnerships & ventures as well.
 
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Let him cook on this one. Lot of rich folks do this shyt all the time. Lot of rich corporations, too. Bankruptcy, change the name and local, back to business, same ol business.


Besides, he was just flossing a couple weeks ago. It's all shell games for the dummies. (That's the flossing and the bankruptcy. Different fronts for different folks.)
 
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Sensei said:
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.
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ALL FACTS
 
leoc

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many of you are confused.

50 Cent is filing chapter 11 bankruptcy, not chapter 7 bankruptcy.

Chapter 7 bankruptcy is what most people think all bankruptcies are.

Chapter 11 bankruptcy is filed when you have to pay a debt but few/none of your assets are liquid so it prevents the debtor from seizing your assets. It basically gives 50 time to sell some of his assets for fair market value so he can pay the debt back in cash. He's still rich as fuk everything is tied up in investments though.
 
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Day_Walker said:
If Rick Ross posts up a video flossing with his baby mama after she gets the 5 million + it's over for 50 no matter how hard the Stans try to spin it.
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1225211670_rick-ross-ft-r.kelly-speedin.0-01-05.231.jpg
 
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R.U.L.E. said:
Here breh :jawalrus:

"gave birth to a style, dats way too common now/ nikkas is cocktails, got my shyt all watered down." Tried to tell yall that karma would come back and get 5-0. I told yall the importance of owning your own publishing/masters. You'll never catch da gawd Ruler filing for personal bankruptcy.
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Sensei said:
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.
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Trump had personal guarantees and was 900 million in the hole....

The banks had no other choice but to restructure the debt and since then he's never made personal guarantees....


SMSAudio has just done deals with Disney to carry their Marvel lines and their Star Wars lines...
They have also signed with Intel for the bio-sport range....
the company is targeting specific niches NOT the mass market 'blockbuster' headphones

SK Energy is still going but he's not the face of that brand anymore ...they're in the top 6 energy shot bracket
Power is a successful TV show....Cheetah Vision films might 'flop' but they sold the domestic rights and intnl rights

You sh!t on his business acumen and yet he was one of the first rappers to forego the endorsement fee for an equity stake
Personal credit doesn't matter when you have a track record or better yet can piggyback off the track record of others...

Eitherway you are talking about a guy who cheated death and kept going..... he'll bounce back
 
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sean998

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hexagram23 said:
Kinda like people sitting on a message board trying to give financial advice to a multi-millionaire. :patrice:

Fred.
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Just like they was clowning Ross. Or clowning Jay with Tidal. And everybody under the sun. Why would Curtis be exempt? He a public figure..public ridicule, justified or not, comes with the territory.
 
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