50 Cent Lawyers Request Confidentiality of Frigo Endorsement Details

by San Antonio Attorney

American rapper and entrepreneur 50 Cent does want to disclose the details of his Frigo RevoutionWear endorsement, according to reports.  Last year, he posted in his Instagram account that he earned $78 million from his endorsement deal with the underwear product. But Mr. Jackson’s attorneys have asked the court not to disclose the details of the deal because it would provide their competitors an unfair edge.  According to Frigo’s website, the $100 underwear is designed to be revolutionary.

Debtors are required to reveal all of their property and assets when they file for bankruptcy. This means that the bankrupt rapper has to provide details about his endorsement deals, to creditors.  But bankruptcy judges have the power to allow exceptions.

According to his lawyers, entertainers do not to divulge the details of endorsement contracts because the outcomes of that would be devastating. Moreover, they said the underwear endorsements keeps 50 Cent identified with the high-end consumer market and gives the rapper an advantage that will help repay his creditors.  They also mentioned that the product is associated with famous people like former professional baseball athlete Derek Jeter, basketball star player Carmelo Anthony and rap artist Timbaland.

The rapper’s legal representatives also made a similar request to keep his Effen vodka endorsement deal a private matter.

Last May, his three-year old boxing promotion company filed for bankruptcy due to increasing debt.  In July, he filed for personal Chapter 11 bankruptcy in an attempt to avoid paying a large amount of judgments.

The bankruptcy law  provides protection to struggling consumers and companies from creditors. If you are considering filing for bankruptcy, talk to a San Antonio Lawyer know what to expect in your bankruptcy case.

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