Former G-Unit member Young Buck‘s battles with the government appear far from over as new reports claim his trademarked name may diminish in light of a current bankruptcy/liquidation case.
Details on the possibility of Buck losing his rap alias emerged online heading into the weekend.
Rapper Young Buck could lose his name and other assets in a bankruptcy case that the rapper says is frustrating his attempts to sign with a new record label. Davidson County Bankruptcy Judge George Paine converted the artist’s bankruptcy from Chapter 11 reorganization to Chapter 7 liquidation this week. The trustee administering his estate has said she plans to sell the trademarked “Young Buck” name along with other assets. To date, creditors have submitted 22 claims totaling $11.5 million in Buck’s bankruptcy case, including $10 million that the record label G-Unit Records says Buck owes them over a contract dispute. (Washington Post)
Despite the situation’s seriousness, Buck hopped on Twitter with the upmost confidence and slammed the reports.
“Everything is tooken care of!!!! Thanks for all the support!!! God is Good!!!,” Buck tweeted late Friday (December 23).
“Money can’t buy talent and a few money problems don’t take it away.”
“If somebody gonna sell my name, better call my momma. It belong to her!”
“Don’t believe it unless you hear it from me…it’s gonna be a very happy new year.” (Young Buck’s Twitter)
The rapper’s legal woes have slowed down a Cash Money Records deal from finalizing.
In an interview Wednesday night, an exasperated Buck said the conversion is counterproductive because he is close to signing a recording deal with Cash Money Records that would allow him to pay all his debts and exit bankruptcy orderly. The proposed multi-party deal, independently confirmed by The Tennessean, would have settled Buck’s contract dispute with former mentor 50 Cent and his G-Unit Records and shipped him to New Orleans-based Cash Money. Buck is still under contract with G-Unit but has been prevented from recording since 2008 because of a personal falling out with 50 Cent, whose real name is Curtis Jackson. (The Tennessean)
Earlier this month, the Southern hip-hop artist revealed he has an upcoming mixtape dropping through Miami rapper Rick Ross‘ Maybach Music Group.
“Without the fans, I couldn’t be here. The fans, they appreciate when they can touch you,” Buck said in an interview. “These rappers live behind this old picture. They put this brick wall in front of them. It’s a million security guards before a fan can even shake your hand. I’m the type of individual who likes to give that love and make sure the fans really feel that love. The Rehab mixtape was basically a mixtape I put out there and it ended up getting distributed. As far as my music goes, I’ve put out Back On My Buck Sh*t Volume 1, Volume 2 which was produced by Drumma Boy and I’m working on a mixtape right now on behalf of Maybach Music, so salute to them.” (Hip Hop Official)
Check out a recent Young Buck interview below: