50 Cent files for bankruptcy

• GOONx19

  

  rmolin73;1740670 wrote:You are aware that he is a pretty good actor? So I think he's still in his prime.

  Lol he hasn't had one major role in a decent movie.
• like_that

  

  rmolin73;1740670 wrote:You are aware that he is a pretty good actor? So I think he's still in his prime.

  Lolwut
• SportsAndLady

  

  50 cent is broke
  50 cent is a decent actor
  
  This thread is full of lies!
• Belly35

  

  SportsAndLady;1740678 wrote:50 cent is broke
  50 cent is a decent actor
  
  This thread is full of lies!

  hey can't put anything on the Internet that isn't true.
• QuakerOats

  CH 11 is for Corp's and partnerships; 13 is for individuals, so this would appear to be for his business entity, although I have not taken the time to read the filings.
• Belly35

  

  I couldnt give 2 cents what 50 cent does ...
• GoChiefs

  

  GOONx19;1740671 wrote:Lol he hasn't had one major role in a decent movie.

  Get Rich Or Die Tryin' was Oscar worthy bruh! Snubbed cause Fity's a black man.
• lhslep134

  

  QuakerOats;1740696 wrote:CH 11 is for Corp's and partnerships; 13 is for individuals

  Not completely accurate. An individual may file Chapter 11, and 50 Cent is actually ineligible for Chapter 13 bc his debts are above the threshold.
• lhslep134

  

  iclfan2;1740658 wrote:I get the difference in types of bankruptcies, but how is it irrelevant if it is a personal bankruptcy or a corporation? I get it's a reorg with 11, but I can't imagine that a far off corp you are related to files it vs you personally filing it, holds the same weight. It's an honest question, since you obviously no more about it.

  It's a Chapter 11 bankruptcy. With very intricate exceptions I'm not getting into, the code provisions are enforced the same no matter who files.
• MontyBrunswick

  

  Belly35;1740700 wrote:I couldnt give 2 cents what 50 cent does ...

  That's because you're racist
• iclfan2

  

  lhslep134;1740712 wrote:It's a Chapter 11 bankruptcy. With very intricate exceptions I'm not getting into, the code provisions are enforced the same no matter who files.

  I get that, but with a random corp you own part of vs your personal assets, it seems a bit more burdensome if you personally file it vs a corp that protects your personal wealth.
  
  So trumps "bankruptcies" aren't exactly an apple to Apple comparison to 50's personal filing. Right?
  
  
  Sent from my iPhone using Tapatalk
• Heretic

  

  lhslep134;1740640 wrote:Who are you referring to?

  Every great once in a while, the Dr. finds a topic (such as college uniforms) to let us all know that he is above such petty concerns that us mortals find entertaining. Apparently this is one such topic.
• lhslep134

  

  iclfan2;1740722 wrote:I get that, but with a random corp you own part of vs your personal assets, it seems a bit more burdensome if you personally file it vs a corp that protects your personal wealth.

  It's entirely dependent on how 50's financial interests are structured. If all his wealth is funneled through LLCs, it won't really be any different than a corporation filing.
  
  If you're asking me whether a person with a ton of assets and debt but not structured in a corporate way and files for Chapter 11 bankruptcy is treated differently than a person with a ton of assets and debt but structured smartly, then...yes, they will probably have to give up more. But if you're an individual filing Chapter 11, most likely it's because of the complexity of your finances.