Chris Brown has been instructed to settle a $2 million debt linked to an unpaid loan associated with Popeyes Chicken.
Last year, Chris became involved in a legal dispute regarding a $2 million unpaid loan obtained for the acquisition of two Popeyes Chicken franchises in collaboration with music producer The Dream and others. Following extensive litigation, a Los Angeles court has issued a definitive ruling against the singer, mandating him to fulfill the financial obligation.
As per court records, this week witnessed the California court affirming a sister-state judgment filed by City National Bank (CNB) in September 2023. Initially, the bank had lodged a lawsuit in Georgia, where it secured a significant $1,760,654.11 in damages against Chris.
Initially reported by The Blast, CNB’s lawsuit claimed that it extended a $2 million loan to Chris and his associates to facilitate the acquisition of two Popeyes chicken restaurants. Despite the loan agreement, Chris failed to meet his financial obligations, prompting the bank to pursue legal recourse to recover the outstanding debt.
Following the court’s judgment, CNB is now authorized to commence collection proceedings against Chris in California. During the recent hearing, CNB’s request was granted, granting the singer a 30-day period to provide a response to the case or risk finalization of the judgment.
The court’s filing issued a firm caution to Chris, highlighting the possible repercussions of non-compliance. Failure to address the judgment within the stipulated timeframe could result in the seizure of his assets to satisfy the debt owed to CNB.
