Rapper Young Buck may lose his name in his Bankruptcy

Rapper Young Buck, whose real name is David Darnell Brown recently had his Chapter 11 bankruptcy converted to a Chapter 7 bankruptcy. As a result, Young Buck can possibly lose his ability to keep using his stage name. How is this possible?

Chapter 11 bankruptcy is a reorganization of debt, usually for large businesses. It allows the business to continue operating if the court approves a Chapter 11 Reorganization Plan. However, Young Buck had his Chapter 11 bankruptcy converted to a Chapter 7 bankruptcy. When a business files for Chapter 7 bankruptcy, it is a full liquidation proceeding. This means that the business stops operating and all assets are sold to pay-off creditors.

So how can Young Buck lose his name? Because the actual name "Young Buck" is a trademarked stage name, it is considered an asset and therefore can be sold. The proceeds from the sale of the name will be used to pay off other creditors.

Categories: Chapter 11, Chapter 7