Master P Lawsuit Escalates to Bankruptcy Court

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Master P Lawsuit Escalates to Bankruptcy Court

Unread post by admin » September 7th, 2011, 8:22 am

This topic correspond to the post that can be found at http://www.streetgangs.com/hip-hop/0907 ... wsuit:Lora Neng
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September 7, 2011

Percy Miller, aka Master P, has been under legal trouble since 2005 for not paying former employees. Several members of the rapper's film crew in the 2003 movie "Uncle P" had sued him for shirking his financial duties at the end of the project and won the case, but they claim that they have yet to be paid.

TMZ reports that a group of disgruntled former employees have now filed to push Master P into bankruptcy so that an independent trustee will be appointed to manage his assets. They are seeking to collect $240,000 in defaulted payments.

Master P's original label, No Limit Records, had previously filed for bankruptcy in 2003 and morphed into a new partnership with Koch Records under the new distribution company named Guttar Music Entertainment. Once valued at over $600 million, and with his son Lil Romeo helming the revived record company for a stint, there is considered speculation on whether Master P really lacks the funds to compensate his former workers.

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Re: Master P Lawsuit Escalates to Bankruptcy Court

Unread post by MMRbkaRudog » September 13th, 2011, 2:42 pm

Even after all that money, guess he didn't change from what I heard he was when he wasn't wealthy.

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Re: Master P Lawsuit Escalates to Bankruptcy Court

Unread post by MCD » September 15th, 2011, 11:22 pm

MMRbkaRudog wrote:Even after all that money, guess he didn't change from what I heard he was when he wasn't wealthy.
You ever see his cribs episode from a few years ago? Fool shouldn't have bought a mansion for his 13 year old son. I don't know how but he managed to spend all that money

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Re: Master P Lawsuit Escalates to Bankruptcy Court

Unread post by Quepolo3 » September 16th, 2011, 2:04 am

MCD wrote:
MMRbkaRudog wrote:Even after all that money, guess he didn't change from what I heard he was when he wasn't wealthy.
You ever see his cribs episode from a few years ago? Fool shouldn't have bought a mansion for his 13 year old son. I don't know how but he managed to spend all that money
When you make a lot of money, you spend a lot of money. I'm sure he felt that he would always have the success that he had achieved early in his career, but that didn't happen. I would assume that Mismanagment of funds was an issue, but when he went to the nice guy image, he lost his street cred, and the ability to stay prevalent in the hip hop game, which was his true money making endeavor. When those awful shows came out on disney, I knew it would be some problems. I hope that he can bounce back, I hate to see a brother make it out extreme poverty, end up heading back in that direction. I know that even though you declare bankruptcy doesn't mean you don't have any money, just that you can't pay your debts, it doesn't equate for a successful business.

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Re: Master P Lawsuit Escalates to Bankruptcy Court

Unread post by ViciousRidah » September 16th, 2011, 6:13 pm

Quepolo you are right, I don't think when you file for bankruptcy means you don't have any money in your account.

But I am real saden by this.

Master P was a good hustler, he wasn't just responsible for putting out good music under No Limit, he owned a movie theater,had a gas station,was in films, on clothing line, and few other ventures.

But he just was focused on making stuff with DIsney, I am not mad at him. I think its cool that a brother can find some solace in living a square life and make a film for kids that his children can probably relate to.

P did acting, and actors have to be professional to play a role,many rappers starring in movies ignore this fact, you have to understand rappers hardly ever act in movies all they have to do is be who they are and there is no professionalism being displayed at all in films.

P.Miller(Master P) decided to be professional and act he took on a new image and I don't knock him for it.

They are other rappers out here who make a so called family movies for blacks and it gives a bad image, I for example hated ''Crooklyn'' because it furthered to portray the stereotype of young black kids being criminals.Thats for some not all.

P.Millers son Romeo may be on disney or nickoledeon but at least it may be breaking ground there.

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Re: Master P Lawsuit Escalates to Bankruptcy Court

Unread post by Quepolo3 » September 17th, 2011, 10:02 am

@ ViciousRidah- Well said bruh! Don't get me wrong, I applaude him for attempting to change his image, and present a more positive image, especially for our young black and latino men, who look up to him. However, I don't think that was his true talent. Honestly, I thought his acting was awful. That's just my oppinion. I'm old fashioned, and I believe that if it aint broke don't fix it. There is nothing wrong with trying new things. He gave it a shot, and it didn't work, hopefully his next endeavors will.

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Re: Master P Lawsuit Escalates to Bankruptcy Court

Unread post by PrinceTheReal » September 24th, 2011, 10:37 pm

man Master P is one the realest...i looked up to this mans music....alot of us whose fathers did not play a huge roll in our lives listened to niggas like master p who made us feel rite...P hopefuly things work out for u

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Re: Master P Lawsuit Escalates to Bankruptcy Court

Unread post by MCD » October 4th, 2011, 9:02 pm

i know when you're pullin that kind of money you rack up bills, but what I'm sayin is when you blow up and have an opportunity to make that kind of money, you gotta use your head and manage it wisely.

I never really listened to P's stuff anyways. So I was never aware of his money problems.

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Re: Master P Lawsuit Escalates to Bankruptcy Court

Unread post by MMRbkaRudog » November 29th, 2011, 11:06 am

Quepolo3 wrote:
MCD wrote:
MMRbkaRudog wrote:Even after all that money, guess he didn't change from what I heard he was when he wasn't wealthy.
You ever see his cribs episode from a few years ago? Fool shouldn't have bought a mansion for his 13 year old son. I don't know how but he managed to spend all that money
When you make a lot of money, you spend a lot of money. I'm sure he felt that he would always have the success that he had achieved early in his career, but that didn't happen. I would assume that Mismanagment of funds was an issue, but when he went to the nice guy image, he lost his street cred, and the ability to stay prevalent in the hip hop game, which was his true money making endeavor. When those awful shows came out on disney, I knew it would be some problems. I hope that he can bounce back, I hate to see a brother make it out extreme poverty, end up heading back in that direction. I know that even though you declare bankruptcy doesn't mean you don't have any money, just that you can't pay your debts, it doesn't equate for a successful business.
I don't believe that was early in his career, but he always had a vision to become bigger. He had that dream back when he was recording in the early 90's, or even before that. I did think he was a fool for what he spent & I don't think he was as real as some people say, or I don't respect some of his decisions he has made.

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