50 Cent’s Boxing Promotion Company Files for Bankruptcy

50 Cent is trying to use his boxing promotion company to dodge a sex-tape lawsuit.

The rapper placed SMS Promotions LLC in bankruptcy Tuesday in U.S. Bankruptcy Court in Hartford, Conn., to dodge a suit filed by Rick Ross’s ex, according to the New York Daily News.

Lastonia Leviston, rapper Rick Ross’s ex-girlfriend, sued 50 Cent in 2010, claiming he violated her privacy by posting a sex tape featuring her and Ross online.

Ten minutes before the trial was set to start Tuesday, Ms. Leviston’s lawyers got an email notifying them of the bankruptcy filing. The filing puts the brakes on lawsuits against SMS. 50 Cent’s lawyers say that because the rapper owns the company, he should be protected from lawsuits, as well.

Ms. Leviston’s lawyer said the filing was an “egregious case of sandbagging” and will seek to proceed with trial in state court.

Bankruptcy lawyers for SMS Promotions’ bankruptcy lawyer didn’t return emailed requests for comment. But according to a statement released by Billboard, “Under the direction of Mr. Jackson, SMS Promotions looks forward to reorganizing as a new corporate entity and becoming one of the leading promotion companies in the world of professional boxing.”

SMS Promtions, which launched in 2012, reported assets and debts each between $100,000 and $500,000 in its chapter 11 filing. Judge Ann M. Nevins is handling the case.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa