P is being sued by
a bank in Louisiana, claiming he owes $739,000 on a line of
credit he secured last year. The lawsuit which was filed a couple
of weeks ago, claims that P has fallen behind repaying a promissory
note made in May of 1999.
P owns a variety
of businesses, including No Limit Clothing, No Limit Sports,
No Limit Films, a real estate company, and a sports management
company. Master P is restructuring No Limit Records.