50 Cent Challenges Young Buck’s Bankruptcy Sale
The conflict arose as a result of the assets Buck hopes to sell that have not been disclosed, according to WSJ. In the filing, 50 Cent is asking to see what assets Buck intends to sell, claiming his former artist’s intellectual property belongs to G-Unit.
“Thus, all compositions created by the debtor have already been irrevocably conveyed to Jackson (and Universal), and G-Unit retains irrevocable rights of ‘every kind and nature,’ including to rights to royalties, copyrights, to renew/extend copyrights and to causes of action,” 50′s attorney’s wrote in papers filed last week.
Young Buck’s assets are going up for sale as a result of a judge-ordered Chapter 7 bankruptcy liquidation, which includes intellectual property, masters, royalties and more.
Young Buck was signed to 50 Cent’s G-Unit label in 2004 and recored two solo albums before falling out with 50 and the label. He and 50 had not reconciled. As a result, Young Buck was not let out of his original G-Unit contract, which prevented him from signing to other labels.
A hearing on the matter is expected next month in Nashville, Tenn. –E. Parker, CBS Local
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