50 Cent has struck a deal with Rick Ross’ son’s mother in his bankruptcy repayment plan. He will be giving her a $6 million lump sum of the $7 million settlement she won after suing him for exposing her sex tape, so long as she drops the suit. If he doesn’t pay in 30 days, however, Tia’s original claim will be reinstated.
As for the $18.1 million judgment against him from Sleek Audio (which is his biggest creditor,) they’ve agreed to a $17.3 million lump sum, and in return, Sleek execs will help him fight the $75 million malpractice suit against the lawyers who represented him in their case.
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Via Bossip:
He’s also proposed paying one million to the bank on his outstanding mortgage, $1.2 million to ASCAP for a royalty advance, up to $3.9 million to SunTrust Bank for backing SMS Audio and a nearly $132,000 payment to Bentley Financial Services for his 2012 vehicle.
In this proposed plan, 50 has 5 years to pay back an additional $1.3 million he owes to other creditors not listed. If he pays within a year, he’ll only have to pay 75% of the claims. A judge has yet to sign off on the plan, but it looks likely.