Welcome Guest [Log In] [Register]
Welcome to Zatalounge

Zatalounge is a chat forum provided for those who wish to present their personal views, opinions, or insights on all sorts of topics. Everyone has an opinion and they don't always agree. This website seeks to promote differences of opinion and discussions among users so that everyone gets to have their say.

Become a registered member or be our guest. It's your choice!


Username:   Password:
Add Reply
Homosexual rapper 50 Cent declares bankruptcy
Topic Started: Jul 17 2015, 07:44 PM (76 Views)
Guest
Unregistered

After sex tape lawsuit

http://www.courant.com/news/connecticut/hc-50-cent-sex-tape-bankruptcy-20150717-story.html
Quote Post Goto Top
 
Guest
Unregistered

He is apparently worth a lot of money, and did this to avoid paying taxes.

I wonder how much money he has in offshore accounts?

Who are other deeply closeted rap/hip hop people?
Quote Post Goto Top
 
Erna
Member Avatar

Can 50 produce evidence that his 'business' lives up to black legend?
Offline Profile Quote Post Goto Top
 
Tybee
Member Avatar

Guest
Jul 17 2015, 11:59 PM
He is apparently worth a lot of money, and did this to avoid paying taxes.
Good luck with that. I'm pretty sure there is no venue where bankruptcy can wipe out a tax debt.
Offline Profile Quote Post Goto Top
 
Guest
Unregistered

I'm sure he wasted a lot of his money.

http://www.businessinsider.com/50-cent-may-be-able-to-reduce-some-of-his-legal-costs-with-bankruptcy-2015-7#ixzz3fpplI5jp
Quote Post Goto Top
 
Guest
Unregistered

The 2 articles linked make it pretty clear that he's filing Chapter 11 to stop the woman's lawsuit against him, or at least delay it -- he's also forum shopping, trying to get that suit transferred from state court to federal court (probably because he thinks the state court judge doesn't like him, which may well be true).

Chapter 11 could discharge the woman's judgment against him, but not any punitive damages that are awarded. If nothing else, the delays & expense added by the Chapter 11 case could give him extra leverage in negotiating a settlement with the woman.

Quote Post Goto Top
 
1 user reading this topic (1 Guest and 0 Anonymous)
ZetaBoards - Free Forum Hosting
Free Forums. Reliable service with over 8 years of experience.
« Previous Topic · General Discussion · Next Topic »
Add Reply