Home / Arts and Entertainment / Damon Dash Sells Life Rights for $550K in Bankruptcy
Damon Dash Sells Life Rights for $550K in Bankruptcy
22 Oct
Summary
- Film company acquired Damon Dash's life story rights for $550,000.
- Proceeds will help settle $25 million in debts, including taxes.
- Deal includes 100 hours of archival material and Roc-A-Fella movie rights.
A film company has purchased the broad rights to Damon Dash's life story for $550,000 in a bankruptcy deal. Everlasting Films won the auction, securing exclusive rights to commercialize Dash's name, voice, image, and likeness. This acquisition also encompasses 100 hours of archival material and rights to a Roc-A-Fella movie project.
The substantial sum will be allocated to repaying Dash's considerable debts, which total approximately $25.3 million. These debts include millions in unpaid taxes to New York, New Jersey, and California, child support payments, and a defamation judgment. Dash's stake in Roc-A-Fella and associated royalties were previously auctioned off.
Dash filed for Chapter 7 bankruptcy last September, reporting debts that significantly exceeded his assets. This bankruptcy process involves selling off assets to pay creditors, potentially allowing Dash a fresh start upon completion.
