YOUNG BUCK CONCLUDES AGREEMENT AFTER HIDING ROYALTIES IN BANKRUPTCY CASE

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Young Buck has been accused of hiding his royalties from the bankruptcy trustee, but he has now come to a deal. The rapper is still in Chapter 7 bankruptcy. 

The pot au roses unveiled 

According to AllHipHop, the rapper filed in January 2020 an IOU for debts owed to 50 Cent, his ex-girlfriend, the IRS and other creditors. During the bankruptcy proceedings, the trustee learned that Young Buck was collecting publishing money through his company, Mouth Full of Ice. In July 2021, Young Buck was accused of willfully withholding royalties from ASCAP in order to defraud the trustee in bankruptcy of more than $ 35,000 .

Earlier this week, curator Erica R. Johnson filed a complaint about the rotation of royalties with the court. Johnson traced Young Buck’s ASCAP earnings and determined that the rapper received $ 24,228.14 after filing for bankruptcy, and that money belongs to the bankrupt estate. 

An agreement finally found

Young Buck reached a solution regarding the undisclosed royalties. He entered into a settlement agreement with the bankrupt estate under the following terms:

– Young Buck must reimburse $ 515 per month, until a date agreed upon between the two parties.

– Young Buck has until the 15th of each month to make the payment, with a grace period of 5 days.

-If Young Buck does not comply with the regulations, the bankruptcy estate will claim the entire unpaid balance.

In conclusion, all the royalties from its catalog, prior to January 2020 must be remitted to the trustee to reimburse the rapper’s creditors.

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