Young Buck’s in some deep water. The Wall Street Journal reports that former G-Unit member’s financial problems have taken a turn for the worse and that 50 Cent may be the reason..
Burton (bankruptcy trustee) has been working since January to investigate Young Buck’s financial situation and to formulate a plan to exit bankruptcy. In June, Burton and Young Buck filed that plan, which counted on the rapper’s ability to modify a recording agreement with 50 Cent’s G-Unit Records and a distribution agreement with Universal Music Group. The revamped agreements would provide the revenue needed to pay off Young Buck’s creditors, according to the plan. The trustee added that 50 Cent and Young Buck “remain in disagreement” about each side’s obligations under the recording agreement.
“At this time, because no agreement has been reached with G-Unit and Curtis Jackson regarding either assumption or rejection for the recording agreement and/or the publishing agreement, the first amended plan cannot be confirmed,” Burton said in court papers filed last week. “The trustee believes and therefore asserts that there is no reasonable likelihood of reorganization at this point.”
Under Chapter 7, Young Buck’s assets would be sold and distributed among his creditors. The trustee’s request remains subject to bankruptcy-court approval.
Ricky Rozay takes it upon himself to release the official album cover for his upcoming release “God Forgives, I Don’t” which is set to drop online & in stores on December 13th.
“I needed to add some important finishing touches to the album which resulted in the new release date. I have some surprises in store for the fans that have to be seen before the album comes out. It’s definitely worth the wait.”
The folks at Interscope just sent over the official artwork for Yelawolf’s Shady debut “Radioactive” along with a statement from the Alabama native above. November 21st is the date, pick it up!
Earlier today, Def Jam & Ross held a conference call for a handful of DJ’s & media members to discuss Rozay’s upcoming release “God Forgives, I Don’t” coming December 13th. I was actually waiting to get my questions in when the homie Young Sav (who runs the call) went ahead and asked them for me. (I tend to e-mail him my questions beforehand in case I don’t make it on the line in time.) Anyways we asked Rozay what method he uses to suppress writer’s block & where his favorite place to record is. Fast forward to 18:20 for that. Also be sure to cop his new singles You The Boss & I Love My Bitches on Itunes at midnight.
