Young Buck is auctioning off his music catalog, but the sale has created a legal battle between potential owners.
According to court documents obtained by AllHipHop, Structured Asset Sales objected to the winning bid lodged by Middleton Open Season Partners.
The back catalog is being sold as part of Buck’s bankruptcy case, with Open Season’s winning bid coming in at $740,000.
Structured Assets have claimed they could bid more than the $740,000 the catalog appeared to be sold for. They are also the same firm that sued Ed Sheeran for alleged copyright infringement over his song “Thinking Out Loud.”
Through their lawyer, Open Season said: “Structured Asset Sales is nothing more than a disgruntled potential bidder. Structured Asset Sales, through its principal [David] Pullman, received the Solicitation Email and made no efforts or attempts to contact the Broker or to participate in the bidding process for the Property.”
They continued: “Structured Asset Sales finally discussed the Property with the Broker in mid-December, almost six months after the Solicitation Email was sent and almost two weeks after the Sale Motion was filed.
“Structured Asset Sales, now realizing that it slept on its opportunity to participate in the bidding process, seeks to object to the Sale Motion and disrupt the private sale to Open Season.
“The Sixth Circuit Court of Appeals, as well as multiple other lower courts in the Sixth Circuit, have stated that frustrated bidders do not have standing to object to the sale of the property.”
A broker working on behalf of Young Buck solicited offers for his catalog last summer with all bids due by July 14. Open Season have urged the court to allow the sale to proceed and have requested a break-up fee of $25,000 if the catalog is auctioned again to cover expenses.
When sold, the fee will cover all of the former G-Unit rapper’s outstanding debts including child support, his mobile phone bill and a lien owed to the Department of Treasury worth $200,000.
Buck previously blamed 50 Cent for being forced into bankruptcy, claiming his former label boss prevented him from being able to make money.
“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.”
50 Cent would probably buy it just for a laugh
Bucks had all them opportunities and still owed all that money. Bro never learned nothing from his 1st irs issue clearly. Can’t keep folks who don’t learn around
You don’t know fifty or buck you just talking I hope the man come up
These other cats contesting the sale of Buck catalogue simply pawns throwing spanners in the works. Hope the nonsense get dealt with fast. Buck on his way up. Can’t stop his blessings even though they might try. SMH
Damn, I could own over 10% of his music for $100k? Shit, that’d be a good investment… push it online in stupid tiktok videos, make it popular again, and sell it for vide games and whatnot. Missed opportunity lol
Aint no Buck song gone go viral! Who ever buys that music will lose big time.
Come on Buck stay down south and put something together on the internet.get with Master P he will help
You a straight dickhead
I agree wit yu zo, some people would rather tarnish your plan instead of supporting it ,dickhead jay must haven’t had had financial problems in his life:
This is smart. He giving up his rights to start over plus Buck seeing the names things will go to. So he will be able to speak for himself, Not that he hasn’t. I really dnt know if he has or hasn’t been speaking for himself on a financial aspect but going bankruptcy is smart on his behalf. It’s like akunimatata. To his past and let’s tighten up for the future, only if yu keep coming with hits will this make cents.
That’s the music industry for you, entertainment but in the state of audio not video, we all knew even buck knew the music industry is a gamble. Especially when you have some one else controlling your every aspect of your career, the man (devil Lucifer) that you sold your whole exsistance to, (you’re music producer), that’s what you get going into the music Industry as weak as a slave you become one.