50 Cent Will Move Forward With His Business Despite Filing For Bankruptcy
50 Cent isn’t going to let a little thing like bankruptcy stop him from doing business.
Lawyers for Curtis Jackson confirmed the rapper-actor-mogul filed for bankruptcy under the chapter 11 code in Hartford, Connecticut, on June 13. The chapter 11 filing allows him to reorganize his business interests, as opposed to a chapter 7 bankruptcy filing, which would mean liquidation of his assets.
So despite the setback, 50 Cent’s run as a business mogul is far from done.
“The filing allows Mr. Jackson to reorganize his financial affairs, as he addresses various professional liabilities and takes steps to position the future of his various business interests,” says William A. Brewer III, partner at Brewer, Attorneys & Counselors, and counsel to Mr. Jackson, in a statement.
“Mr. Jackson’s business interests will continue unaffected in the ordinary course during the pendency of the chapter 11 case.