*Birdman hopes a judge will block one of his creditors from seizing his income in an ongoing $20M lawsuit that dates back to 2017.
According to court documents obtained by The Blast, the lawsuit in question was filed in 2017 by a company named EMG Transfer Agent. The lender accused Birdman of borrowing $12 million and using his Miami mansion as collateral. The suit accuses the artist of defaulting on the loan and seeks $20 million in damages.
Now the music mogul is back in court and calling for a judge to block EMG from collecting profits made from his Florida recording studio. Birdman believes the lender gave him a sham loan and wants the case be tossed, the report states.
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— BIRDMAN (@BIRDMAN5STAR) October 12, 2019
Here’s more from The Blast:
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.
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.
“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,” Birdman states in the court docs.
In his countersuit against EMG, Birdman demands “the return of all money or property given as earnest money or down payment,” the report states.