Birdman tries to block music income from being seized in $20 million lawsuit
Birdman hopes that the judge will side with him.
Birdman is trying to stop his music from being seized in his current $20 million court battle.
According to The Blast, the Cash Money Records CEO is attempting to save his music income from being wrapped up in his legal battle. Per documents obtained by the outlet, Birdman is demanding that a judge not allow one of his creditors to take profits made from his Florida recording studio.
The lawsuit in question was filed by a company called EMG Transfer Agent in 2017. The lender has accused Birdman of borrowing $12 million and using his Miami mansion as collateral. The lawsuit has also accused him of defaulting on the loan. Thus, EMG Transfer Agents is seeking $20 million in damages. Birdman, on the other hand, has denied allegations of wrongdoing. In fact, he believes that the lender gave him a “sham loan” and is demanding that the case be dismissed.
Months after the lawsuit was filed, a judge appointed a receiver to acquire possession of Birdman’s mansion. The receiver took control of the home and the property inside as well. EMG Transfer Agency recently went to court seeking all profits from Birdman’s recording studio, which is located at his former Miami mansion.
According to new court documents, Birdman has fired back at the lender’s claims and demands that their requests be shut down. He claims that the recording studio was never put up at collateral for the $12 million loan.
Birdman also said that while the studio may be located in the Miami mansion, the studio’s income is not tied to it being on the property. He also argued that if the studio was elsewhere, it would still make money.
The Blast reports that Birdman said, “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.’”
He is asking for the judge to side with him on this matter.
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