Sources claims Kanye West is quietly using his assets as collateral to secure a series of loans to save his fashion brand...
From The Sun
KANYE West has placed several assets on the line for the sake of his clothing company Yeezy LLC, The U.S. Sun can exclusively reveal.
The 46-year-old rapper has put a Yeezy clothing range, luxury motors, and land as collateral in a number of mysterious financial deals.
According to documents obtained by The U.S. Sun, Yeezy LLC - the clothing umbrella owned by Kanye - entered into an agreement with logistics firm 1981 Distribution earlier this month.
The 1981 Distribution firm specializes in distributing and warehouse facilities for e-commerce and it appears the firm is handling Yeezy's stock and shipping.
As collateral for this deal, Kanye put up two luxury motors, his YZY Gap Apparel range, “various storage archive items” and “Stem Player designed by Teenage Engineering," The U.S. Sun can confirm via documents obtained from Uniform Commercial Code financial statements.
Back in 2021, Kanye collaborated with the Swedish electronics firm Teenage Engineering to design the Stem Player, which is one of the assets on the line for the new deal with 1981 Distribution.
UCC is a lender's legal declaration of a lien on an asset to secure a loan or lease of equipment.ON THE LINE
The UCC documents revealed a series of loans Kanye has been tied up in dating back to 2015 for the success of his business empire and 1981 Distribution isn't the only company associated with Yeezy LLC's assets.
Kanye landed an additional deal with CGB Agri Financial Services, which lends money and leases agricultural machinery.
The debtors are listed under Kanye and his Wyoming firm Psalm Cody Ranch LLC.
He purchased the 4,524-acre rural estate in Cody for $7.7 million in October 2019.
Some of the land was used for flood irrigation with the infrastructure to add irrigation pivots.
If the loan isn’t repaid, then the collateral includes all “irrigation equipment of every kind and nature, including but not limited to center irrigation pivots, pumps, PVC pipe, sprinklers and motors."
7 comments:
I love to hear he's broke because maybe it's a choice. Like how he says slavery was a choice.
He was NEVER a billionaire, same with Diddy, same with Kim K. I think in these next 10 years we are gonna see an unbelievable amount of these frauds being exposed. This is just the beginning! Cant wait.
Oh well. Easy come, easy go.
Does this mean his wife can go back to wearing clothes again.
Next up he can't afford his 200k a month child support. Haha. See how cordial Kim is when he wants to reduce his child support payments lol.
I’m strapped owing American Express $2K.
I can’t even imagine owing millions in loans like these fools! That is beyond crazy to owe millions!! Kanye better think of doing a Vegas Residency or maybe a Dubai performance. Jesus Walks still hits today as well as many of his old songs.
This is fake news … information is not accurate at all. Have to hate media nowadays they can claim anything
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