An article at the New York Post's Page Six has more on 50 Cent filing bankruptcy for SMS Promotions, noting that at the same time he filed for bankruptcy, he also got a federal judge to remove a civil suit brought against him by Lestonia Leviston, who filed the suit in 2010 after 50, real name Curtis Jackson, posted an explicit video of Leviston and another man on his web site in 2009.
Leviston's lawyer Hunter Shkolnik fumed that the 11th-hour staling tactic was "the most egregious case of sandbagging" he'd ever seen. He vowed to petition the federal court to return the case for a trial in Manhattan state court.
Shkolnik called Jackson's explanation for why the business bankruptcy could effect his personal pocketbook "weak."
The Grammy-Award winning rapper is worth an estimated $140 million and he declared bankruptcy for the boxing-promotions firm just weeks after he reportedly won $1.6 million betting on welterweight boxing champion Floyd Mayweather to retain his title against Manny Pacquiao.
SMS' debts are reportedly between $100,000 and $500,000.