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Birdman Fights To Stop Bank From Seizing Music Money In $20 Million Lawsuit

Birdman has rushed to court in an attempt to save his music income from being seized as part of an ongoing $20 million legal battle.

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 Florida recording studio.

The lawsuit in question was filed in 2017 by a company named EMG Transfer Agent. The lender accused Birdman of borrowing $12 million from them and using his Miami mansion as collateral.

The suit accuses Birdman of defaulting on the loan and seeks $20 million in damages.

Birdman has denied the allegations of wrongdoing. He believes the lender gave him a sham loan and has demanded the case be tossed.

Months after the case was filed the judge appointed a receiver to take possession of Birdman’s mansion. The receiver took control of the home and all property inside.

EMG Transfer Agent recently went to court demanding all profits from Birdman’s recording studio. The studio is located at Birdman’s former Miami home. The lender argued the profits should also be seized.

In newly filed court documents, Birdman is firing back and demanding they be shut down. He says his recording studio was never put up as collateral for the $12 million loan.

The rapper says the studio may be located at the Miami mansion. Birdman says the studio income is not tied to it being on the property. He argues his studio would make money if at another location.

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 is pleading with the judge to side with him and not cause havoc to his music business.

SOURCE

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