Jermaine Dupri Could Lose So So Def Catalog In Bank Lawsuit

Jermaine Dupri

Jermaine Dupri is reportedly close to losing the rights to his So So Def catalog for failing to pay back a bank loan of nearly $5 million.
the producer took out a $4.8 million loan from SunTrust Bank in 2010, and has paid back over half of the amount, but stopping making payments.
The bank is now suing Dupri for nearly $2 million, plus interest.
The problem is that the hip-hop mogul had to put up collateral to get the loan, which was the copyrights and royalties to songs from the So So Def catalog, including cuts from Xscape, Bow Wow and Da Brat.
Dupri's cash flow problems have made headlines in recent years. Just this February, he paid off a $3 million tax lien filed by the IRS, and has dodged the foreclosure of his Atlanta mansion TWICE in the past year.
He has yet to comment on the current lawsuit.

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