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50 Cent Reportedly Reaches Settlement In Bankruptcy Case

The rapper, actor, and entrepreneur will pay out a total of $23 million to his creditors over five years.

July 06, 2016
50 Cent Reportedly Reaches Settlement In Bankruptcy Case Noam Galai / Getty Images

A bankruptcy judge has signed off on a deal previously put forward by 50 Cent, a.k.a. Curtis Jackson, and his legal team today, TMZ reports. The deal will require Jackson to pay out a total of $23 million to his creditors - $17 million to Sleek Audio and $6 million to Lastonia Leviston.

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After filing for Chapter 11 bankruptcy protection in July 2015, Jackson and his legal team introduced the payment plan in April. "Mr. Jackson is pleased that the Bankruptcy Court approved his plan of reorganization today, less than one year after filing for chapter 11 to reorganize his financial affairs," A lawyer for Jackson told TMZ after the judge signed off on the deal. "Mr. Jackson appreciates the fresh start this process provides."

A representative for Curtis "50 Cent" Jackson was not immediately available for comment.

50 Cent Reportedly Reaches Settlement In Bankruptcy Case