Rapper 50 Cent Files for Bankruptcy

menier111 Published 07/14/2015

The 40-year-old rapper, filed for chapter 11 protection in the U.S. Bankruptcy Court

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The rapper 50 Cent filed for bankruptcy protection on Monday, halting a dispute over a sex tape.
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Jurors said last week that Mr. Jackson should pay $5 million to Ms. Leviston, who said that Mr. Jackson violated her privacy by posting a sex tape of her online. Mr. Jackson’s lawyers dispute the amount of the verdict.
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The skeletal, five-page bankruptcy petition didn’t reference the lawsuit. Generally, filing for bankruptcy protection halts lawsuits and collection efforts.
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Mr. Jackson estimates that his assets and debts, which were not itemized, are worth between $10 million and $50 million, court papers said.
5.
50 Cent put his boxing promotion company, SMS Promotions LLC, into bankruptcy protection on May 26. The maneuver was related to the 2010 sex tape lawsuit.

1.
The rapper 50 Cent filed for bankruptcy protection on Monday, halting a dispute over a sex tape.
2.
Jurors said last week that Mr. Jackson should pay $5 million to Ms. Leviston, who said that Mr. Jackson violated her privacy by posting a sex tape of her online. Mr. Jackson’s lawyers dispute the amount of the verdict.
3.
The skeletal, five-page bankruptcy petition didn’t reference the lawsuit. Generally, filing for bankruptcy protection halts lawsuits and collection efforts.
4.
Mr. Jackson estimates that his assets and debts, which were not itemized, are worth between $10 million and $50 million, court papers said.
5.
50 Cent put his boxing promotion company, SMS Promotions LLC, into bankruptcy protection on May 26. The maneuver was related to the 2010 sex tape lawsuit.

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The rapper 50 Cent filed for bankruptcy protection on Monday, halting a dispute over a sex tape.

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