Roc-a-Fella co-founder has $ 25 million in debt

ROC-A-Fella Records co-founder Damon Dash He filed for bankruptcy, saying there was a little more than $ 4,000 towards his name and owes more than $ 25 million in tax accounts, child support and court judgments.

Dash, who-based Roc-a-guy with Jay-Z and Kareem “biggs” Burke In 1994, he wants to clarify debts through the so-called Chapter 7 Bankruptcy Petition submitted on Thursday (4. September) in Florida. Comes almost exactly a year after the third interest of Dash for Roc-a-guy by auction to New York state because of these same debts.

According to the petition, Dash has only $ 100 in cash, and several estates worth a total of $ 4,250. These items include a $ 2,500 jewelry, plus cell phone, clothes and two rifles.

Dash’s debts far beyond their property. He claims to owe a huge $ 25.3 million, whose $ 19 million was made of unpaid taxes in New York, New Yord Jersey and California.

The Executive Director also says that he owes more than $ 600,000 in children’s support for two of his ekes, Rachel Roy and Cinda Morales and almost $ 5 million for the producer Josh Webber.

Dash and Webber fought in court since 2019. Years due to a failed partnership to make a movie called Dear Frank. Webber won the court judgment of $ 823,000 from a dash 2022. year, and last year last year for slander for defamation of $ 4 million last year. Another case ended in the default judgment against Dash this last March.

Last August, New York condition allegedly put in the winner of $ 1 million bids Buy Dash’s Roc-A-Fella Actions At the help of hopes to satisfy some of Dash’s great debts.

Roc-a-guy was dissolved in 2013. years, and its primary remaining assets is the transfer of income from the Jai-Z’s iconic debut album Reasonable doubt. The album is expected to maintain copyright generation for a ROC-a-guy at least until 2031. years, when the rights will be terminated by copyright and allow Jay-Z to regain full control.

Reached for comment on Dash’s bankruptcy petition on Friday (5. September), his lawyer Brian Zinn give Bilbord Chapter 7 Bankruptcy is a “strategic decision that allows individuals to reorganize their finances and get a new beginning.”

“Bankruptcy is a legal tool that many successful people used to restructure their obligations,” Zinna adds.