Wednesday, 13 April 2016


50 cent offers to pay creditors $23m over 5 years in Bankruptcy deal.

50 cent bankruptcy.
Rapper 50 Cent has reached a deal with his creditors that stipulate he pay $23 million dollars over the next five years.The amount works out to be around $400,000 a month and is 74 per cent of what he originally owed them.
I really think 50cent is taking the mickey in this whole process,and he needs to be very careful,he can get himself in serious trouble.

TMZ reports that he has submitted a proposal through his lawyers which will need to be approved by bankruptcy Judge Ann Nevins. 

Sleek Audio, 50's biggest creditor, would receive $17.3 million under the terms of the proposal.SunTrust Bank's in for about $4.9 mil. Meanwhile, Lastonia Leviston who got a $7 million judgment in the sex tape case -- has settled on $6 million. 

In addition to the $23 million commitment, 50 says he's liquidating some assets to cover the debts. 

This still has to be approved. 


No comments:

Post a Comment