The rapper, who declared Chapter 11 bankruptcy after a jury rendered a $5 million verdict against him in the case, lost a bid to keep an automatic stay in the case in place.
The fundraising attempt had received just just $5 in donations as WENN went to press.
In new documents obtained by TMZ, it has been revealed that the hip hop star now owes money to organisations including American Express, Bentley and his own grandfather. News at a “Southpaw” junket that the 50 Cent bankruptcy filing is simply a “precaution” he is taking. “It means you’re re-organizing your finances”. “I don’t wanna be a bulls-eye”.
That’s what he’s claiming in a new personal bankruptcy case filed Monday as the entertainer, whose real name is Curtis Jackson III, was scheduled to testify in a million sex tape trial.
After filing for Chapter 11 bankruptcy, U.S. rapper 50 Cent is determined to prove that he is actually struggling financially.
In addition, the rapper posed next to a smartcar in light of the 50 Cent bankruptcy filing protection announcement on Monday.
“You get a bullseye painted on your back when you’re successful, and it’s public to know you’ve become the ideal person to have lawsuits for”, he said.
Nevins disputed Nelligan’s claim that she or another federal judge could set punitive damages at a later date.
“Times are hard out here LMAO #EFFENVODKA #FRIGO #SMSAUDIO”, he wrote.
“He probably didn’t”, 50 Cent replied. The rapper is undoubtedly not totally broke, but it is not clear how much of his $155 million net worth he still has.
For the time being, the bankruptcy filing has halted progress on Levinston’s lawsuit.