Rap mogul Suge Knight files for bankruptcy
Hip-hop mogul Marion "Suge" Knight has filed for bankruptcy, in an attempt to save his label Death Row Records.
One of Knight's lawyers announced the action Tuesday and added that the rap impresario will also file for bankruptcy for Death Row.
"He has no choice, the way these people have forced his hand," Knight's lawyer Laurence Strick told Reuters.
Knight had been embroiled in a lawsuit brought by his former associate Lydia Harris, who claimed Knight had cheated her out of her stake in the label, which helped introduce such rap stars as Tupac Shakur and Snoop Dogg.
In late March, a judge ordered Death Row into receivership after finding that Knight had not paid the $107-million US civil judgment Harris won a year ago.
The rap mogul was scheduled to appear in court this past weekend to disclose his finances.
The judge had also set the appointment so that Knight would have the opportunity to petition the court to contest the receivership order and possibly prevent the seizure of his assets.
However, neither Knight nor a legal representative turned up at the appointment.