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A trustee found a buyer for Young Buck’s music catalog in his bankruptcy case. According to court documents obtained by AllHipHop, trustee Erica R. Johnson will sell the rapper’s catalog for $730,000 barring any objections.
“The Trustee proposes to sell all of her right, title and interest in the Catalogs to Middleton Open Season Partners I LLC (the ‘Buyer’) in consideration of payment from the Buyer to the bankruptcy estate in the amount of Seven Hundred Thirty Thousand U.S. Dollars (U.S. $730,000.00),” Johnson wrote. “The closing of the sale shall occur when the Order approving this Motion is final and non-appealable (the ‘Closing Date’). Such funds shall be paid to the Trustee within fifteen (15) days of the Closing Date.”
Johnson added, “The Trustee believes that the sales price is fair and reasonable considering the valuation of the Catalogs given by the Broker.”
Young Buck’s ASCAP, Select-O-Hits, SoundExchange and Universal Music Publishing catalogs will be sold to Middleton in the deal. Johnson secured a buyer for the catalog with the help of a royalty analyst
The Trustee previously obtained court approval to employ Ben Stauffer, a Royalty Analyst with RoyaltyTraders LLC dba SongVest (the ‘Broker’), to assist the Trustee in selling the Catalogs,” Johnson wrote. “See Order Authorizing Employment of Broker to Sell Catalogs entered June 28, 2023. The Broker solicited offers from its network of approximately thirty (30) investors and ultimately found a party interested in purchasing the Catalogs.
As of Thursday (December 7), the trustee held a $193,920 deposit in Young Buck’s bankruptcy estate. The pending influx of money will help pay several creditors, including thousands of dollars owed in child support.
Young Buck filed for bankruptcy in 2020. The rapper faced intense pressure from 50 Cent, who tried to collect a $250,000 debt from the former G-Unit member
allhiphop.com
“The Trustee proposes to sell all of her right, title and interest in the Catalogs to Middleton Open Season Partners I LLC (the ‘Buyer’) in consideration of payment from the Buyer to the bankruptcy estate in the amount of Seven Hundred Thirty Thousand U.S. Dollars (U.S. $730,000.00),” Johnson wrote. “The closing of the sale shall occur when the Order approving this Motion is final and non-appealable (the ‘Closing Date’). Such funds shall be paid to the Trustee within fifteen (15) days of the Closing Date.”
Johnson added, “The Trustee believes that the sales price is fair and reasonable considering the valuation of the Catalogs given by the Broker.”
Young Buck’s ASCAP, Select-O-Hits, SoundExchange and Universal Music Publishing catalogs will be sold to Middleton in the deal. Johnson secured a buyer for the catalog with the help of a royalty analyst
The Trustee previously obtained court approval to employ Ben Stauffer, a Royalty Analyst with RoyaltyTraders LLC dba SongVest (the ‘Broker’), to assist the Trustee in selling the Catalogs,” Johnson wrote. “See Order Authorizing Employment of Broker to Sell Catalogs entered June 28, 2023. The Broker solicited offers from its network of approximately thirty (30) investors and ultimately found a party interested in purchasing the Catalogs.
As of Thursday (December 7), the trustee held a $193,920 deposit in Young Buck’s bankruptcy estate. The pending influx of money will help pay several creditors, including thousands of dollars owed in child support.
Young Buck filed for bankruptcy in 2020. The rapper faced intense pressure from 50 Cent, who tried to collect a $250,000 debt from the former G-Unit member
Young Buck Catalog To Be Sold, But 50 Cent's Still Breathing Down His Neck
A buyer offered to pay six figures for Young Buck's catalog in a deal secured by the trustee in his bankruptcy case.
allhiphop.com
