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Post Info TOPIC: Death Row Records Auctioned for $18 Million


Born Again

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Posts: 2316
Date: Jan 19 21:03:29 2009
Death Row Records Auctioned for $18 Million



The assets of failed former gangta rap empire Death Row Records were
auctioned on the 15 of January for less than twenty million dollars

The price was so low that only the IRS will probably be the only creditor that will receive any money.  Unsecured creditors like co-founder
Lydia Harris will more than likely receive nothing.  Likewise, Harris
is not pleased with the verdict.


 "This was all a scam from the beginning," Harris told Billboard Magazine. "Everyone wanted me to bring judgment down, and so I brought on the case. But now I'm not getting paid because I'm an unsecured creditor? Yet, administrators are getting paid and Suge Knight's bills are still getting paid? If it wasn't for me no one would be getting money. They made sure it happened this way because I was the biggest creditor. There must be some internal thing going on and I'm obviously not in on it."

In 2006, there were a few companies like Warner Music Group that were
interested in the purchase of the company at its then market value of
twenty-five million dollars.  However, all the companies eventually pulled
out after they discovered that the label neglected good record-keeping.



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