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| Homosexual rapper 50 Cent declares bankruptcy | |
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| Tweet Topic Started: Jul 17 2015, 07:44 PM (76 Views) | |
| Guest | Jul 17 2015, 07:44 PM Post #1 |
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After sex tape lawsuit http://www.courant.com/news/connecticut/hc-50-cent-sex-tape-bankruptcy-20150717-story.html |
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| Guest | Jul 17 2015, 11:59 PM Post #2 |
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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? |
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| Erna | Jul 18 2015, 03:25 AM Post #3 |
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Can 50 produce evidence that his 'business' lives up to black legend? |
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| Tybee | Jul 18 2015, 06:21 AM Post #4 |
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Good luck with that. I'm pretty sure there is no venue where bankruptcy can wipe out a tax debt. |
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| Guest | Jul 18 2015, 10:06 PM Post #5 |
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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 |
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| Guest | Jul 18 2015, 11:43 PM Post #6 |
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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. |
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2:27 PM Jul 11