Suge Knight Files For Bankruptcy
April 4, 2006 at 2:42 PM (PT)
MARION "SUGE" KNIGHT filed for bankruptcy today (4/4) to avoid losing control of his DEATH ROW RECORDS label in a $107 million civil court judgment, his lawyers told REUTERS.
KNIGHT, who co-founded Death Row in the early 1990s, has failed to make good on a MARCH judgment to pay LYDIA HARRIS, who claimed the rap mogul cheated her out of a 50% stake in the label.
Two weeks ago, a LOS ANGELES COUNTY Superior Court judge said he would appoint a court officer to take control of KNIGHT's assets, including DEATH ROW, and directed KNIGHT to disclose his finances in a debtor's exam set for APRIL 1 (see NET NEWS 3/24).