Young Buck Reaches Settlement After Hiding Royalties In Bankruptcy Case

ByDonald L. Leech

Nov 29, 2021

Young Buck has been accused of hiding his royalties from the trustee over his bankruptcy state, but he has now reached a settlement. The rapper is still bankrupt in Chapter 7. According to ToutHipHop the rapper filed in January 2020 debts to 50 Cent, his ex-girlfriend, the IRS and other creditors. During the bankruptcy proceedings, the trustee learned that Young Buck was collecting money for publishing through his company, Mouth Full of Ice. In July 2021, Young Buck was charged with withholding his ASCAP royalty returns in an attempt to defraud the trustee overseeing Alabama bankruptcy laws over $ 35,000.

Earlier this week, administrator Erica R. Johnson filed a complaint about royalty turnover with the court. Johnson traced Young Buck’s ASCAP earnings and determined that the rapper received $ 24,228.14 after he filed for bankruptcy, and that’s money that belongs to the bankruptcy estate. Young Buck reached a resolution on the undisclosed royalties, he reached a settlement agreement with the bankruptcy estate under the following conditions.

Young Buck is to repay $ 515 each month, which will continue until a date to be mutually agreed upon.

Young Buck has until the 15th of each month to make payment, with a 5 day grace period.

If Young Buck defaults on the settlement, the bankruptcy estate will go after the entire outstanding balance.

In conclusion, all royalties from its catalog before January 2020 must be remitted to the trustee to reimburse the rapper’s creditors.