Suge down to final $11?
Suge Knight Down To His Last $11?
Rap music mogul claims no monthly income, $137 million in debts
MAY 5--
Dogged by $12 million in tax liens and other legal judgments, rap music titan Marion "Suge" Knight is down to $11 in his checking accounts and the bling on his back, according to a bankruptcy court filing. The Death Row Records founder, who filed for Chapter 11 protection last month, claims that his $4.4 million in assets is dwarfed by $137.4 million in debt. He filed for bankruptcy shortly after being hit with a $100 million judgment in a lawsuit brought by a woman who claims she was instrumental in the founding of Death Row. According to schedules filed in U.S. District Court in Los Angeles (excerpts of which you'll find below), the 41-year-old Knight has no monthly income and meager asssets, including $25,000 in jewelry and clothing worth $1000. He also lists monthly expenses of about $30,000, the majority of which ($24,700) is earmarked for "alimony, maintenance, and support paid to others." While Knight's plight seems dire, his court filing lists as "unknown" the value of his interest in ten companies, including Death Row, Getto Records, and Blood Money Entertainment. We're not sure how Suge plans to emerge from bankruptcy, but perhaps the Bloods-affiliated producer could once again hang Vanilla Ice by his feet off a hotel balcony--only this time, he'll have to see if any change falls from the wack rapper's pockets.
Later, QD.
Reply With Quote
Originally Posted by Julio
