Suge knight files for Bankruptcy

Discuss anything music from hip-hop to R&B to alternative music. Also included here are news worthy articles as it relates to music, musicians and the industry.
UmanH-ay

Suge knight files for Bankruptcy

Unread post by UmanH-ay » April 4th, 2006, 8:36 pm

Rap Mogul 'Suge' Knight Files For Bankruptcy
View larger imageSuge Knight during a taping of The Late Late Show©Getty Images / Mark Mainz
05/04/2006ReutersRap mogul Marion "Suge" Knight filed for bankruptcy to avoid losing control of his Death Row Records label in a US$107 million civil court judgment, his lawyers said.

Knight, who co-founded Death Row in the early 1990s and helped launch the careers of such rap stars as Snoop Dogg and Tupac Shakur, has failed to make good on a March judgment to pay Lydia Harris, who claimed Knight cheated her out of a 50 percent stake in the music label.

Harris's attorneys have accused Knight of "playing games" to avoid payment to their client.

Two weeks ago, a Los Angeles County Superior Court judge said he would appoint a court officer, called a receiver, to take control of Knight's assets, including Death Row, and directed Knight to disclose his finances in a debtor's exam set for April 1.

The judge, Ronald Sohigian, said then that Knight could petition the court to remove the receiver if he cooperated in providing information about his assets. But the rap impresario failed to show up for the exam.

"He has no choice, the way these people have forced his hand," Knight's new lawyer, Laurence Strick, told Reuters, adding that he will file for bankruptcy for Death Row later in the day.

Another court hearing in the matter has been set for this week, during which the judge could formalise the receivership.
http://xtramsn.co.nz/music/0,,13570-5616328,00.html

BlaKK
Super Heavy Weight
Super Heavy Weight
Posts: 5533
Joined: December 7th, 2003, 2:17 pm
Location: s/s riverside
Contact:

Unread post by BlaKK » April 4th, 2006, 8:44 pm

That nigga shug baught a house a couple blocks down from my crib out here in Corona, City Legislature and Govrenore kicked his ass up out the city tho. Said the niggas was nothin but trouble.

MiChuhSuh

Unread post by MiChuhSuh » April 4th, 2006, 9:29 pm

sorta feel sorry for him, this guy had issues since day one

whoknows
Middle Weight
Middle Weight
Posts: 130
Joined: December 2nd, 2005, 7:06 am

Unread post by whoknows » April 5th, 2006, 6:07 am

he ain't broke, he just sayin that to keep from paying that lady her chips. all he has to do is file for bankruptcy shut down the row and open it back up in another name that way he ain't got 2 pay the lady nuthin.

Benito Miranda
Newbie
Newbie
Posts: 11
Joined: March 31st, 2006, 8:54 am

Unread post by Benito Miranda » April 19th, 2006, 8:46 am

but you know he's smart hes a buisness man he aint gona pay if he can get away with it

steeze
Straw Weight
Straw Weight
Posts: 66
Joined: March 9th, 2005, 9:34 am

Unread post by steeze » April 19th, 2006, 8:57 am

Today is his Bday

Post Reply

Return to “Music and News”