Young Buck goes back to court regarding his bankruptcy case.
According to court documents obtained by AllHipHop, the United States Attorney for District 8 has filed a lawsuit against Young Buck to disclose information about his assets. The US Board of Trustees said that the rapper hid some of his assets and did not share them.
“Debtor is in possession of the Requested Information, or he has the means to readily obtain it,” U.S. Trustee Paul Randolph wrote. “At the 2004 Exam, Debtor agreed to produce the Requested Information promptly following the exam.”
The US Board of Trustees asked for the VIN number of Young Buck’s black truck. He also requested that an insurance claim be denied. The government also requested the contact details of a company that sent him royalties in April.
Young Buck is scheduled to appear in court on July 12. 50 Cent is trying to get his money from the G-Unit lineup. This court situation will also be of interest to him.
The trustees believe that Young Buck is withholding assets that need to be declared to satisfy his various creditors. In May, 50 Cent’s lawyers requested a judge to take his bankruptcy filing out of court, as Young Buck would not come with the assets he had.
Young Buck Could Lose Everything
Rapper could lose everything. This includes his house. And he is in danger of losing many more things.
AllHipHop has obtained the court papers. The trustees filing for bankruptcy will try to bring him to court in May.
The trustees feel that Young Buck can keep his miscellaneous items and assets that need to be declared. He filed for bankruptcy for the second time in January 2020. 50 Cent is also one of Young Buck’s creditors.
There are several albums that Young Buck never delivered to G-Unit Records. In addition, 50 Cent says that the rapper owes him $250,000.
While the bankruptcy proceedings were pending, the case’s trustees claimed that Young Buck hid a substantial income from the publishing company. The rapper eventually agreed to pay $515 a month until a formal deal was made.