Damon Dash, the co-founder of Roc-a-Fella Information, has filed for chapter, in keeping with courtroom paperwork reviewed by The Hollywood Reporter.

In keeping with paperwork, filed in Florida on Thursday, Dash is submitting for Chapter 7 chapter, stating that he’s over $25 million in debt, whereas having simply $4,350 to his identify in property. Dash co-founded Roc-a-Fella with Jay-Z and Kareem “Biggs” Burke again in 1994, and the label launched data together with Jay-Z’s debut Affordable Doubt, additionally signing acts comparable to Kanye West and Jadakiss.

Within the submitting, Dash reported just a few possessions, together with $500 value of garments, two weapons, his cellular phone and $2,500 value of jewellery. Dash reported about $5,200 in month-to-month bills. The manager reported that he owes over $4 million to filmmaker Josh Webber, in addition to almost $650,000 in home assist obligations to ex-partners Rachel Roy and Cindy Morales.

The majority of his money owed, nonetheless, lies in taxes to New York, California and New Jersey. Dash reported that he owes about $9.6 million in New York, $3.5 million in New Jersey and almost $5.8 million in California. Dash has confronted monetary struggles for years; the New York Submit reported final 12 months that New York state had bought Dash’s share of Roc-A-Fella for $1 million to assist pay down what Dash owes in again taxes.

A rep for Dash didn’t instantly reply to request for touch upon the chapter submitting.