Suge Knight Update
Rap mogul files for bankruptcy.
To avoid losing control of Death Row Records, due to the $107 million ownership suit, Marion "Suge" Knight will file for bankruptcy according to his lawyer. After being threatened that a court official, called a receiver, will take control of his assets, including the label, Knight failed to make a court hearing. Now, a new hearing is set for Tuesday, where court officials can formalize the receivership.
When asked about the situation, Knight's new lawyer, Laurence Strick, told Reuters, "He has no choice, the way these people have forced his hand." He plans to file the bankruptcy for Death Row later in the day.