Law360, New York ( August 20, 2015, 2:01 PM EDT) -- Curtis James Jackson III, better known as rapper 50 Cent, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Connecticut on Monday, July 13. At the time of his filing, Jackson indicated in papers filed with the bankruptcy court that his filing was "not primarily a result of excessive current expenses exceeding his current revenues, but rather the substantial costs of litigation and resulting awards against in the past year which total in excess of $20 million," and that while he has "substantial assets, he does not have the ability to pay the full amount of these litigation claims and all other asserted claims at the present time, thereby necessitating this Chapter 11 filing." Despite Jackson's statements, the filing raised questions about whether Jackson was a victim of his own lavish lifestyle or drowning in litigation debt because he had not yet filed complete schedules listing all his assets and debts, along with a statement of financial affairs (SOFA) listing other important financial information....