BusinessBusiness RecoveryStay of execution for US record label

Stay of execution for US record label

Death Row Records seeks bankruptcy protection

Iconic rap label, Death Row Records and its owner music mogul Marion ‘Suge’
Knight, have been forced to seek bankruptcy protection to stave off going into
receivership.

The label helped launch the careers of rappers such as Snoop Doggy Dogg.

Death Row was forced to seek protection from creditors after it was ordered
to pay more than $100m (£57m) to former associate Lydia Harris who claimed she
had helped start the record label in 1989.

Lawyers for Knight said he did not have the money to pay the judgment, BBC
News online reported.

According to the BBC, the bankruptcy motion was filed hours before a hearing
at which the company might have been placed in receivership.

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