Judge orders bankruptcy takeover of label
AP, Jul 7, 2006 10:39 pm PDTA federal judge on Friday ordered a bankruptcy trustee takeover of Marion "Suge" Knight's Death Row Records, saying the record label has undergone gross mismanagement.
U.S. Bankruptcy Judge Ellen Carroll made the ruling as part of proceedings initiated when the rap label filed for bankruptcy in April. Carroll said the label's accounting practices were in disarray and noted that Knight testified he hadn't reviewed the financial statements in a decade.
"It seems apparent there is no one at the helm," she said, adding there appears to have been gross mismanagement, allowing her to take away Knight's control.
Knight was not present at the hearing and a message left for his attorney was not returned.
The label and Knight filed for protection under Chapter 11 of federal bankruptcy law. Knight has claimed debts of more than $100 million. The federal filing halted a state court action in which a former couple, who claim they helped found the label, were trying to collect a $107 million judgment from Knight.
Knight has a history of legal problems. He was convicted of assault in 1992 and placed on probation, then jailed for five years in 1996 for violating that probation. He was returned to jail in 2003 for again violating parole, this time by punching a parking attendant at a Hollywood nightclub. He was released in 2004.
More Artist News
'Suge' Knight pleads guilty to misdemeanor battery
Feb 18, 2009 3:00 pm PST
Marion "Suge" Knight has pleaded guilty to misdemeanor battery for beating a woman in a Las Vegas parking lot last year. The 43-year-old rap producer entered the plea in Las Vegas Justice Court Tuesday in a deal that dismissed two felony ...
Rap mogul "Suge" Knight injured in fracas
Feb 16, 2009 3:00 pm PST
Rap music mogul Marion "Suge" Knight was treated in the hospital for facial injuries after being injured in a fight at a local hotel, Scottsdale police said on Monday. Security at the W hotel in the city near Phoenix called police after t...
"Suge" Knight charged with assault
Aug 27, 2008 5:04 pm PDT
Rap music mogul Marion "Suge" Knight was arrested on charges of assault and domestic violence on Wednesday after punching his girlfriend and pulling a knife on her during an argument, Las Vegas police said. Knight, 43, co-founder of...
Suge Knight Busted for Sin City Smackdown
Aug 27, 2008 11:00 am PDT
UPDATE: Knight was set to be released late Wednesday after posting $19,000 bail. He's due to appear Sept. 26 in Las Vegas Justice Court . ___________________________________ Marion "Suge" Knight's life is a broken re...
Rap mogul "Suge" Knight named in gang crackdown
Jan 24, 2008 2:24 pm PST
Rap music mogul Marion "Suge" Knight has been named by police as a member of a notorious gang in a crime-plagued suburb of Los Angeles. Knight, best known as the co-founder of the rap label Death Row Records, was one of some 200 people n...
