Posted Feb 19, 2016 02:10 pm CST
Updated: As lawyers for 50 Cent battle with creditors over a potential repayment plan in his personal Chapter 11 bankruptcy case, social media photos have added oomph to the argument that the court may need to put someone else in charge of his money.
Brought to the attention of the Hartford, Connecticut, judge overseeing the case by Lastonia Leviston, who is trying to collect a $7 million judgment from 50 Cent, photos included with an article on the Wall Street Journal’s Bankruptcy Beat blog show the rapper and actor lounging in bed surrounded by stacks of cash and sitting on the floor next to stacks of cash that have been used to spell BROKE.
At a Thursday hearing, Judge Ann Nevin ordered 50 Cent, whose real name is Curtis James Jackson III, to appear and explain the photographs at an upcoming hearing.
“I’m concerned about allegations of nondisclosure and a lack of transparency in the case,” she said. “There’s a purpose of having a bankruptcy process be transparent, and part of that purpose is to inspire confidence in the process.”
Lawyers for 50 Cent weren’t immediately available after the hearing to discuss the judge’s order, the Bankruptcy Beat article says. However, they said earlier that he had disclosed all his assets and blamed Leviston and other creditors who have joined with her for what they described as an effort to “disingenuously smear” him.
Because he works in the entertainment industry, their client “must maintain his brand and image (or those of the products he is promoting),” they wrote in a filing.
In a subsequent written statement provided to the ABA Journal, attorney Patrick J. Neligan, Jr., who is representing the entertainer in the bankruptcy case, said “Mr. Jackson has been forthcoming and transparent with all creditors and has responded to all discovery requests for information and documents served upon him.
“At no time was a written request for information or documents served upon Mr. Jackson’s counsel concerning any social media posts,” the statement continues. “This issue was apparently raised in recent pleading filed by certain creditors. Since that date, Mr. Jackson filed an objection and his attorneys took the initiative to meet with representatives of the same three major creditors who filed that pleading. Following that meeting, the parties are now on a path towards filing a consent plan of reorganization.”
Noting that it is appropriate for the court to ask questions, the statement concludes by saying that Jackson and his lawyers are committed to responding with a formal pleading. It will be filed next week, and “Mr. Jackson and his professionals will appear to make sure that all questions have been addressed.
“We are confident that the matter will be fully resolved to all parties’ satisfaction,” Neligan writes, “and that Mr. Jackson will continue working towards filing a reorganization plan that will be accepted by creditors and the court.”
One of the Instagram photos spotlighted in court papers.
ABAJournal.com: “Did lawyers for 50 Cent spend too much? Woman awarded $7M by jury disputes $123K bill for his costs”
Updated at 6:30 p.m. to include statement from Neligan.