Rapper Curtis J. Jackson III, better known in the entertainment world as 50 Cent, isn't convinced his former business partner's repayment plan submitted to the bankruptcy court here is feasible.
This doubt was evidenced by 59 Cent's July 11 filing of an objection in U.S. Bankruptcy Court in Nashville to rapper Young Buck's plan to repay G-Unit, 50 Cent's label, to which Young Buck owes money and has an obligation to record, according to a Wall Street Journal blog entry linked here.
The filed objection documents 50 Cent's concern that Young Buck can't sufficiently manage his financial affairs to repay his creditors, of which 50 Cent — through G-Unit — is one. A hearing is scheduled for July 19.
In January, the City Paper first reported on Young Buck's bankruptcy, as the rapper's bankruptcy filing had just converted from a Chapter 13 to a Chapter 11 bankruptcy. Both Chapter 11 and Chapter 13 are forms of reorganization and restructure allowing the debtor to repay at least a portion of debts outstanding within a prescribed time frame, usually five years.
- ALEX B FRUIN INHERITANCE TRUST; CANDACE F STEFANSIC INHERITANCE TRUST; CANDANCE F STEFANSIC INHERITANCE TRUST; FRUIN, ALEX B TRUSTEE; FRUIN ALEX B INHERITANCE TRUST; STEFANSIC, CANDACE F TRUSTEE; STEFANSIC CANDACE F INHERITANCE TRUST; STEFANSIC CANDANCE F INHERITANCE TRUST
- ROSS, BRIDGETT D
- COOKE, ETHEN LANYARD TRUSTEE; COOKE, ETHEN LEWIS ESTATE
- JACOBS, JESSICA ALEXANDRA; JACOBS, ERIKA BESS