The music catalog of David Darnell Brown, popularly known as Young Buck, is heading to the auction block as part of a plan to satisfy his creditors, including 50 Cent.
This move comes after a series of financial difficulties that forced the rapper to seek bankruptcy protection in early 2020.
AllHipHop.com can confirm that the catalog, comprised of performance royalties, mechanical royalties, publishing royalties, and song copyrights, was valued at over $700,000 by SongVest, a brokerage firm specializing in selling music royalties.
Trustee Erica R. Johnson believes that the catalog sale will generate sufficient funds to pay off all creditors, including 50 Cent, to whom Young Buck reportedly owes $250,000.
As part of the plan, SongVest will be engaged to facilitate the sale to a private network of approximately thirty investors.
The financial woes of Young Buck, who filed for bankruptcy in January 2020, have been well-documented.
The filing came after a tumultuous 2019, which saw the rapper spending time in jail and grappling with significant debts, including child support and obligations to the IRS.
His financial situation was further complicated when 50 Cent claimed Young Buck never delivered two albums under his deal with G-Unit and never paid back a $250,000 loan.
In July 2021, the rapper was accused of withholding royalty statements from ASCAP and hiding $35,000 paid out to his publishing company, Mouth Full Of Ice.
Additional allegations surfaced suggesting that Young Buck failed to report significant income received post-bankruptcy, including over $108,000 from Sound Exchange, over $32,000 from Select-O-Hits, and upwards of $47,000 in royalties from Universal Music Publishing.
As the bankruptcy proceedings continued, the trustee maintained that these funds rightfully belonged to the bankruptcy estate and should have been used to pay off Young Buck’s debts.
If approved by the court, Young Buck’s catalog could fetch almost $1 million, with the broker set to receive ten percent of the gross proceeds from the sale.
Upon finding a buyer, the trustee will seek court approval on the sale by filing a separate motion.
Source:
Greg Grouchy Watkins:
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