On July 13, 2015, Curtis Jackson AKA rapper 50 Cent filed for bankruptcy protection. With his lawyers he filed papers in Connecticut reporting debts between $10 million and $50 million.
In 50 Cent’s Particular case was a Chapter 11 bankruptcy which allows him time to “reorganize” his finances while able to persist in business endeavors. Unfortunately, for him few days after filing he was sued for $5 million plus punitive damages from a sex tape posted online of a woman and her significant other.
50 Cent could have avoided bankruptcy if he had not flaunted his royalties on pointless luxuries. Also he could have avoided engaging in feuds with others that may sue.
By definition of bankruptcy, I think 50 Cent was unethical since he prides himself
In 50 Cent’s Particular case was a Chapter 11 bankruptcy which allows him time to “reorganize” his finances while able to persist in business endeavors. Unfortunately, for him few days after filing he was sued for $5 million plus punitive damages from a sex tape posted online of a woman and her significant other.
50 Cent could have avoided bankruptcy if he had not flaunted his royalties on pointless luxuries. Also he could have avoided engaging in feuds with others that may sue.
By definition of bankruptcy, I think 50 Cent was unethical since he prides himself