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Young Buck was accused of hiding his royalties from the trustee over his bankruptcy state, but now he has reached a settlement, The Source reported. The rapper is still going through a chapter 7 bankruptcy that he filed in January of 2020 over debts owed to 50 Cent, his ex-girlfriend, the IRS, and other creditors. Through the bankruptcy proceeding, the trustee learned that Young Buck was collecting publishing money through his company, Mouth Full of Ice. In July of 2021, Young Buck was accused of withholding his royalty statements from ASCAP in an attempt to defraud the trustee overseeing the bankruptcy of more than $35,000. Earlier this week, the trustee, Erica R. Johnson, filed a complaint about the turnover of royalties with the court. Johnson tracked down Young Buck’s ASCAP earnings and determined the rapper received $24,228.14 after he filed for bankruptcy, and it is money that belongs to the bankruptcy estate. Young Buck has come to a resolution over the undisclosed royalties he has reached a settlement agreement with the bankruptcy estate under the following terms. Young Buck must pay back $515 each month, which will continue until a date that will be agreed upon by both parties.

A creditor group claiming bankrupt drugmaker Mallinckrodt PLC took actions that resulted in price-gouging lost its bid to have an examiner appointed to investigate certain chapter 11 claims and votes related to asbestos exposure, WSJ Pro Bankruptcy reported. Judge John Dorsey of the U.S. Bankruptcy Court in Wilmington, Del., at a hearing on Monday declined to appoint an examiner to look into ballots cast on Mallinckrodt’s plan to exit chapter 11 bankruptcy on behalf of thousands of asbestos-injury victims represented by personal injury lawyer Thomas Bevan and other law firms. Mallinckrodt turned to bankruptcy in 2020 to resolve a rising number of lawsuits over the sale of opioid products along with antitrust claims over pricing for its H.P. Acthar Gel drug, used to treat infantile spasms, multiple sclerosis and other conditions. Dublin-based Mallinckrodt also faced more than 11,700 asbestos-related lawsuits, mostly related to legacy operations of predecessor companies. Judge Dorsey ruled against a request made last month by employers and others alleging they overpaid for Acthar treatments. The city of Rockford, Ill., for example, has alleged that beginning in 2007 Mallinckrodt entered into several contracts designed to limit distribution of Acthar and raise its prices more than 1,300%.

Twenty-six former high-level figures at LeClairRyan, including firm founder Gary LeClair, CEO Eric Gustafson and former general counsel Lori Thompson, have reached an agreement with their insurer and the bankruptcy trustee for the defunct firm to settle a set of pending claims against them for $10 million, Law.com reported. Trustee Lynn L. Tavenner, the 26 defendants, and Columbia Casualty, which issued the firm’s management liability policy, participated in an all-day settlement conference Nov. 16 in which Columbia agreed to pay the trustee $9.425 million to resolve claims including conspiracy, breach of fiduciary duty, and trade secrets against the defendants, and an additional $575,000 to satisfy claim expenses. Together, this sum equals the $10 million liability limit on the Columbia policy.

The Justice Department said yesterday that Bruce Matson, the former chief legal officer at now-defunct law firm LeClairRyan, has been sentenced to 44 months in prison after pleading guilty in July to obstructing a federal probe, Reuters reported. U.S. District Judge John Gibney of the Eastern District of Virginia in Richmond also ordered Matson to pay a $10,000 fine, according to the DOJ. Matson was accused of lying to a DOJ watchdog that was probing his alleged misappropriation of funds from title insurer LandAmerica Financial Group's bankruptcy. Prosecutors had requested 46 months in prison and a $250,000 fine, while Matson's attorneys requested a 37-month sentence. LandAmerica, one of the largest title insurance groups in the U.S., filed for bankruptcy in the Eastern District of Virginia in 2008. Matson, was assigned the role of liquidation trustee for the company's remaining assets while at LeClairRyan. He was found to have embezzled approximately $800,000 from the trust between 2015 and 2018, and misappropriated a total of $4 million, according to court papers. According to prosecutors, in 2019 Matson lied to the U.S. Trustee probing the depleted trust funds, telling them he moved the funds because of high bank fees and tax identification issues. Matson agreed to disbarment in November 2020.