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SMS Promotions Bankrupt

Started by 6ixgawd, May 26, 2015, in Music Add to Reading List

  1. 6ixgawd
    Posts: 3,643
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    Joined: Dec 1, 2014
    Location: Los Angeles

    6ixgawd Banned

    May 26, 2015
    50 Cent
    Boxing Company Goes Bankrupt
    6 minutes ago BY TMZ STAFF
    EXCLUSIVE
    [​IMG]
    Huge blow for 50 Cent's boxing company SMS Promotions -- TMZ Sports has learned the rapper's company has just filed for bankruptcy.

    50 started SMS Promotions back in 2012 ... and signed some pretty big names in the sport, including then-undefeated champion Yuriorkis Gamboa, James Kirkland and Olympic medalist Andre Dirrell.

    But apparently, the boxing biz hasn't been as kind to 50 as it has been to others like his pal Floyd Mayweather ... because according to court docs obtained by TMZ Sports, the company filed for Chapter 11 on May 25th.

    In court docs filed in Connecticut, SMS says it has between $100k and $500k in debts.

    SMS just put on a fight in Connecticut on May 15th -- though it clearly wasn't enough to turn the company around.

    Story developing ...



    Read more: http://www.tmz.com/2015/05/26/50-cent-boxing-company-goes-bankrupt-sms-promotions/#ixzz3bGvJeVlD

    :mjcry:​
     
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  2. Meero
    Posts: 7,814
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    Meero Ay ay ay

    May 26, 2015
    My n----- Fifty stay strong :mjcry:
     
    #2
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  3. Robot
    Posts: 15,743
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    Robot

    May 26, 2015
    He needs to drop Street King Immortal like asap!
     
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  4. Zep
    Posts: 5,706
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    Zep Certified Feminist

    May 26, 2015
    So he can be more in debt ?
     
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  5. Robot
    Posts: 15,743
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    Joined: Feb 15, 2011

    Robot

    May 26, 2015
    So he can make money.
     
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  6. Apoogies
    Posts: 1,129
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    Apoogies wuu2?

    May 26, 2015
    Not the best promotion for his upcoming role in Southpaw
     
    #6
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  7. gunz
    Posts: 898
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    gunz

    May 26, 2015
    50 probably got money stashed in secret places all over queens lmao
     
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  8. sxneighty123
    Posts: 7,452
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    sxneighty123 ⚡

    May 26, 2015
    $500 k is nothing for him tho, There must be some other reason why that company is in debt.
     
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  9. Flacko
    Posts: 21,181
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    Flacko Too Blessed To Be Humble

    May 27, 2015
    "Rapper 50 Cent ducked a potentially costly lawsuit over a s3x tape — by filing for bankruptcy just minutes before the Manhattan trial was scheduled to start Tuesday.

    The “In Da Club” singer brought the Connecticut federal bankruptcy proceeding on behalf of his boxing promotion company SMS claiming the firm owed up to $500,000 that it could not pay.

    He then got a federal judge to remove the Manhattan state civil suit brought by rival rapper Rick Ross’ baby mama, because he is SMS’ “sole owner and manager,” according to court papers.

    The 2010 Manhattan suit by Lestonia Leviston, 36, of Florida “may have effects on a.ssets and liabilities of the debtor,” Fitty’s filing says."

    http://pagesix.com/2015/05/26/50-cents-baby-mama-drama-worsens-after-lawyers-try-to-hide-millions/

    [​IMG]

    50 dont take Ls.
     
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  10. camptech
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    camptech No more half-measures...

    May 27, 2015
    Boss
     
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  11. Serg
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    Serg

    May 27, 2015
    He still rich af. It'll be all good
     
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