Rapper Young Buck may have to sell some of his estate following a downgrade of his bankruptcy status from reorganization to liquidation.
A U.S. Bankruptcy Court judge granted a motion from the trustee to move his case from a Chapter 11 reorganization to a Chapter 7 liquidation. Buck — whose real name is David Darnell Brown — originally filed for Chapter 13 bankruptcy in October 2010 but converted it to a Chapter 11 filing in January.
In July, G-Unit Records and Curtis Jackson (better known as rapper “50 Cent”) filed an objection to Young Buck’s plan to repay them for an unfulfilled recording agreement. In the objection, Jackson and G-Unit expressed concern over whether Young Buck’s plan was reliable, citing past instances of unreliability.
“At the recent 2004 examination of the Debtor, he had trouble identifying where he had been on tour, who had booked his travel, how he had even gotten from one place to another,” the objection reads.
G-Unit and Jackson are asking Young Buck for more than $10 million — and a meeting of his creditors is scheduled for Jan. 30, 2012.
Brown is also facing federal gun charges. That trial, originally set for last month, has been delayed until April.
In October, his probation officer in that case reported his urine tested positive for marijuana. She recommended, however, that no action be taken at that time, though any further violations would result in a hearing.