Controversial foreign rapper, 50 Cent has reached a deal with his creditors that stipulate he pay $23 million dollars over the next five years. The amount works out to be around $400,000 a month and is 74 per cent of what he originally owed them.
According to TMZ, he has submitted a proposal through his lawyers which will need to be approved by bankruptcy Judge, Ann Nevins.
Sleek Audio, 50’s biggest creditor, would receive $17.3 million under the terms of the proposal.
SunTrust Bank’s in for about $4.9 mil. Meanwhile, Lastonia Leviston who got a $7 million judgment in the sex tape case — has settled on $6 million.
In addition to the $23 million commitment, 50 says he’s liquidating some assets to cover the debts.
This still has to be approved.
Prev postNext post