Bankruptcy-Trustee To Take Control Of Death Row Records

A judge has ordered

a bankruptcy-trustee to take control of Marion "Suge" Knight’s Death

Row Records, ruling that the label has been mismanaged due to accounting practices.Judge

Ellen Carroll ruled Friday (July 7) that the label’s accounting practices were

in "disarray," after noting that Knight testified he hasn’t reviewed

financial statements in almost a decade.Knight’s

attorney Daniel McCarthy denied Caroll’s claims and pointed out that the mogul

had renamed the label Tha Row and was currently negotiating a distribution deal

for the label’s lucrative catalog, which includes hit albums by Tupac Shakur,

Snoop Dogg, Dr. Dre, Tha Dogg Pound and others.Knight

was not present during Friday’s court proceedings. According to his lawyers, Knight

injured himself during a motorcycle accident last Sunday (July 1) and was under

doctors orders to recuperate and also experienced a death in his family.The

mogul is also the subject of a new lawsuit filed by Lydia Harris. Lydia and her

ex-husband Michael "Harry-O" Harris claim that Mr. Harris invested $1.5

million dollars in start up funds for the label, while he was incarcerated in

the Metropolitan Detention Center, where he was awaiting trial in Federal Court

for conspiracy charges. The

Harris’ were awarded a default judgment in the amount of $107 million dollars

after Knight missed numerous court dates to provide information about the labels

financial status.In

April, Knight filed for bankruptcy protection to avoid the State Court from placing

a receiver in Death Row, after Knight missed a number of court dates pertaining

to a lawsuit filed by Michael "Harry-O" Harris and his wife Lydia Harris,

who claim they own 50% of the label.Caroll,

who stated that "it seems apparent there is no one at the helm,” authorized

the new trustee "owners" of Death Row Records to take the assets that

are left from the label and convert them into cash to pay off creditors.According

to reports, the label has assets worth between $1 million and $10 million, but

has more than $100 million in debts.

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