Legal

50 Cent Has Reached Deal With His Creditors; Bankruptcy Court May Not Allow It

By HHL Editors
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50 Cent has been in bankruptcy court this week. Yesterday, he had to defend the cash he flexes on Instagram. (He said it was all fake.)

Today, US Trustee Holley Claiborn called on the judge to appoint an examiner to determine if Fif is fully reporting his assets.

"If debtors are not held accountable ... then we don't have any public confidence in the system," Claiborn told Judge Ann Nevins.
Claiborn's skepticism calls into a question a deal 50 has reportedly struck with with his creditors, which include Rick Ross's Baby Mama ($7 million) and his former headphone partners ($17 million).

According to the terms, 50 would pay 74 percent to 92 percent of his 31 million in total debt, depending on how quickly he can get his creditors the money. Then, if he wins his legal malpractice case against his lawyers from the headphone case, his creditors would get 70 percent of the award.

However, that deal is in jeopardy if Judge Nevins agrees with Claiborn that Fif isn't being honest in his accounting. Nevins has scheduled a status conference for April 6, but could make a ruling before then.

50, for his part, can't stop trolling.

For some reason people love me. I went to court today and all I felt was love. They asked me about money I said I ain't got none,but if you want some m&m's here ya go. #EFFENVODKA

A photo posted by 50 Cent (@50cent) on

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Posted In: Legal 50 Cent

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