Suge Knight Files for Bankruptcy

4/5/2006 11:59 AM PDT

Suge Knight Files for Bankruptcy

One of Hollywood's original "Kings of Bling" has gone bust. Marion "Suge" Knight, head of Death Row Records, has filed for Chapter 11 personal bankruptcy this morning in federal court. The groundbreaking record company he founded is apparently planning to also file for bankruptcy later today.

The legal maneuvering comes after Knight recently lost a $107 million judgment to Lydia Harris, who claimed to be half-owner of the rap empire. In her complaint, Harris alleged that Knight schemed to "destroy her ability to lay claim to her rightful share of the ownership and profits" of the label. Superior Court Judge Ronald Sohigan found that Knight did not answer legal inquiries in the case nor did Knight provide information requested by the court, so he found in favor of Harris before the case even went to trial We caught up with Harris today in Los Angeles court and spoke with her regarding the judgment: "It will come eventually, but I'm not sitting around waiting for it," she said. "I am relying on faith but fear no evil."

The bankruptcy filing will change the jurisdiction of the Harris case, which will now be heard in Federal Court.