Young Buck has been told that his catalogue may be sold for about $700,000 — an amount that the Trustee in the bankruptcy case has informed him will satisfy all his outstanding debts.
According to court documents obtained by HipHopDX, trustee Erica Johnson submitted a court order for approval on Friday (December 7). In her order, Johnson proposed that the entirety of Buck’s catalogue — including his ASCAP catalogue and his Universal catalogue — be sold to a buyer for a total of $730,000. The purchaser, Middleton Open Season Partners I LLC, will receive the rights to all the works “free and clear of liens and/or encumbrances.”
In exchange for the purchase, all of Young Buck’s outstanding debts — including his past child support, his T-Mobile bill, and two Department of Treasury liens totaling nearly $200,000 — will be cleared.
Despite previous reports, 50 Cent is not named as a creditor anywhere in the documents. What’s more, the sale of the catalogues will still allow the Welcome to Cashville rapper to make some money — just not as much as he would if he’d owned the catalogues in full.
“Pursuant to the UMPG Agreement, the Debtor is entitled to receive royalty payments from UMPG relating to compositions that were written or co-written by the Debtor and delivered to UMPG,” reads the proposed order.
Check it out below.
Young Buck’s attorneys will have until December 28th to file a “timely response” to the matter and to raise any objections they have to the proposed sale of the catalogues. If his attorneys do, indeed, file a response, a hearing to determine the matter will be held on January 9, 2024, at 9:30 a.m.
It could, however, take weeks thereafter for the sale to be approved by the judge, and for Young Buck’s bankruptcy to be discharged.
“Once he stopped me from being able to make money, I filed another bankruptcy,” Buck said. “They stopped him from being able to cease-and-desist in regards to me being able to, you know.
“I included what he claimed that I owed him in the bankruptcy to be able to say, ‘Well hey, if you’re owed this and present whatever receipts or whatever… You will be paid type of situation.’ But that was the only way I was able to go forward with working, so.”
As for the legal matters with 50 Cent, Buck said he’s not interested in going down that road with his former rhyming partner.
“We at a standstill, I’m definitely not looking to go down a whole long drawn-out court situation, things like that, when it could all get handled and be done on a business level if we had that conversation to get that clarity,” he said. “He could get whatever he’s looking for from me, I can get what I’m needing from him. I can move on with my life, and continue feeding my kids.
“He could do the same. Like I said, my biggest situation was the fact that he sent cease-and-desists out to try to stop all of my music, and get everything pulled down based on saying I’m still an artist on G-Unit.”