Rap Basement

Young Buck

Young Bucks Jewelry, Plaques, Personal Items to be Auctioned by IRS

Posted By on July 11, 2012

If things couldnt get worst for Young Buck they just did. After all his IRS, tax problems, house getting raided and confinscated you would hope there would be a light at the end of tunnel for Mr. Ten-A-Key.

However all his goods down from his Cashville chain to his 50 Cent platinum plaques are getting auctioned away this month by the IRS on July 25th.

The agency said the sale will be held in Nashville and a preview of the merchandise is scheduled for July 25. The items can also be seen online here. In December, a U.S. Bankruptcy Court judge in Nashville converted the bankruptcy of David Darnell Brown – the rapper's legal name – from a Chapter 11 reorganization to a Chapter 7 liquidation. The trustee administering his estate said she planned to sell the trademarked "Young Buck" name along with other assets seized for non-payment. Creditors submitted claims totaling $11.5 million, including $10 million that the label G-Unit Records said Buck owed them over a contract dispute. (WRCB TV)

Dont worry things must be getting a little better between 50 and Buck as 50 tried to get Bucks stuff back few months ago but was unable to.

Attorneys representing 50 Cent and his G-Unit Records say a recent motion to sell Young Buck's intellectual property in a bid to pay his creditors, which we previously covered, doesn't disclose the specific assets up for grabs. That's a problem for 50 Cent, who signed Young Buck to his label in 2004, who says their still-standing recording agreement covers just about all of the IP. As a result, the rapper behind such hits as "In Da Club" and "Candy Shop" is asking a bankruptcy judge to block the sale until they can work out just what Young Buck is–and isn't–allowed to sell. (Wall Street Journal)