Cash Money boss Birdman is fighting to save his music assets from being seized as part of an ongoing $20 million legal battle after the music mogul defaulted on a loan.
According to court documents obtained by The Blast, Birdman is demanding a judge not allow one of his creditors from taking profits made from his music.
EMG Transfer Agent accuses Birdman of borrowing $12 million from them and using his Miami mansion as collateral. They are demanding all profits from his Florida studio – but Birdman says that the loan was a “sham” to begin with.
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.”
He wants EMG shut down for good. The judge is yet to rule on Birdman’s recent filing.