Here’s the latest: on July 14th, following months of waiting for Wayne and Young Money to respond to the allegations in court, the Federal Court judge granted the law firm a default judgement, due to the rapper blowing off the lawsuit completely. The order states Wayne and the label are to pay $260k with interest at 9% from March of this year which amounts to a total of $268,413.70 which will continue to grow until paid in full.
Here’s the backstory: The law firm Michael B. Kramer & Associates filed a federal lawsuit against Lil Wayne and Young Money Entertainment accusing them of screwing them out of hundreds of thousands. The firm originally filed suit explaining Wayne reached out to them in 2013 to represent him involving numerous lawsuits including his battle with Birdman.
They said they worked for 4 years on representing Wayne in lawsuits and the rapper eventually signed a retainer with the firm and paid $20k upfront. Following countless hours on cases and even traveling across the country for Wayne, he said he sent invoices which were all blown off. He eventually stopped working for Wayne in September 2015.
The firm later dismissed the suit due to a settlement they reached with Wayne, which would pay back the unpaid invoices + interest and other fees in the amount of $375k.
Then in March, the firm returned to court and filed a new lawsuit accusing Wayne and Young Money of breaching their settlement.
The lawyer explained that he dropped his original lawsuit due to Lil Wayne and his label reaching a settlement with Kramer last year. The agreement that the rapper signed, acknowledged that he owed his lawyer a total of $375,316 in past due attorney fees. However, the deal stated Wayne would only pay a total of $350k to settle all issues with his former lawyer.
The deal stated Wayne was to wire 50k to his lawyer by December 23rd, which he did send over to Kramer.
The remaining $300k was to be paid in monthly installments of $20k every month with the first payment due on January 23rd. However, the deal said if the rapper was late on one payment then the full $300k would be due immediately.
Kramer said his former client sent over the first monthly payment late and then stopped making the monthly payments. The total amount owed currently comes out to $280k. The lawyer filed suit against Wayne for breach of contract and demanded Wayne be ordered to pay the $280k ASAP.