(AllHipHop News) There’s good news for Nashville rapper Young Buck, and not so good news for his former mentor 50 Cent. TMZ reports that Buck is now officially out of bankruptcy, but 50 will not be seeing any of the money owed to him by the ex-G-Unit member.
Buck apparently borrowed $300,000 from 50, but documents show that the remaining $171,000 balance on the loan has been wiped cleaned. G-Unit Records was also looking for $10 million from Buck, but that debt has been erased as well.
Buck filed for bankruptcy protection in 2010 after his Hendersonville, Tennessee home was raided by the IRS. The trustee overseeing Buck’s bankruptcy liquidation charged that G-Unit and Universal Music Group had worked to prevent Young Buck from selling his masters, licenses, and trademarks due to the outstanding debts owed to them. G-Unit and Universal claimed ownership of all Buck’s intellectual property including his professional name.
[ALSO READ: Lawyers For 50 Attempt To Block Young Buck’s Asset Sale Over Dispute]
Young Buck is currently serving an 18-month prison sentence on weapons charges. He is reportedly set to be released on November 26th.
