Master P Lawsuit Escalates to Bankruptcy Court
WWW.STREETGANGS.COM STAFF WRITER
September 7, 2011
Percy Miller, aka Master P, has been under legal trouble since 2005 for not paying former employees. Several members of the rapper’s film crew in the 2003 movie “Uncle P” had sued him for shirking his financial duties at the end of the project and won the case, but they claim that they have yet to be paid.
TMZ reports that a group of disgruntled former employees have now filed to push Master P into bankruptcy so that an independent trustee will be appointed to manage his assets. They are seeking to collect $240,000 in defaulted payments.
Master P’s original label, No Limit Records, had previously filed for bankruptcy in 2003 and morphed into a new partnership with Koch Records under the new distribution company named Guttar Music Entertainment. Once valued at over $600 million, and with his son Lil Romeo helming the revived record company for a stint, there is considered speculation on whether Master P really lacks the funds to compensate his former workers.
Tags: bankruptcy, Master P, No Limit Records, Percy Miller