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Birdman Might be Broke and Owes $20M for Defaulting On A Loan

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Clearly someone is not putting respect on Baby’s name! Because that may be all that he has left after this case is over.

According to Yahoo, Bryan “Birdman” Williams is in a legal battle for his life. He recently had to appear in court to try and stop a creditor from getting money off his music in a huge $20 million legal war.

Another website called The Blast, has obtained court documents stating that Baby demanded that a judge prohibit creditors from swiping profits made from his recording studio in Florida.

READ MORE: Birdman & Juvenile Announce “Just Another Gangsta 2” Album

In the suit, launched by a company called EMG Transfer Agent, Baby is being sued for borrowing a cool $12M. It is alleged that he defaulted on his loan and the company are seeking $20M in damages. When he initially took the loan, he put up his Miami mansion as collateral.

But Baby (also known as Birdman) believes that he did not scam the company, but that they scammed him.

Now, the judge seems to be siding with EMG and has  appointed a receiver to take possession of Birdman’s mansion. The receiver currently has control of the mansion and all property inside. But apparently, that is not enough. EMG has submitted to the court a demand for all of the profits made off of songs recorded in the studio, that happens to be in the mansion.

READ MORE: Birdman Explains Why Cash Money Records Never Mixed With No Limit Records

Baby is not taking this sitting down. He asserts that the recording studio and those songs made in the studio, are not a part of the deal.

Birdman says, “Plaintiff may argue that the property and recording studio are the same, but that would be simply wrong. The recording studio business is not the property and could move to another location while the “Property stays.”

Reports state that he is worth $80M.

We are watching as this develops.

The post Birdman Might be Broke and Owes $20M for Defaulting On A Loan appeared first on The Source | The Magazine of Hip Hop Music,Culture and Politics.

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