Lee Daniels' settlement money is paying off Dame Dash's $400K debt.
The settlement that Lee Daniels paid to Dame Dash is getting put to good use. Dash has reportedly used the money Daniels owed him to pay off a six-figure debt that's been lingering over him for the majority of the decade.
Slaven Vlasic/Getty Images
According to The Blast, Dash used Daniels' settlement money to settle his debt with Kerison & Willoughby Capital. Dash owed the company $400K that they've been trying to collect from a 2011 judgment they were awarded. The company even attempted to sell the interest in Dash's company to his ex-wife Rachel Roy to try and satisfy the debt.
In legal documents, Dash said that he reached a confidential agreement with Kerison & Willoughby Capital in November of last year. The deal revealed that “monies owed to Dash from a third-party are being paid” to Kerison. Dash also stated that he, “through his own exclusive efforts,” settled his debt and wants the court to order that it's been paid off.
Dash struck a deal with the company in the same month that Lee Daniels settled his debt with the music mogul. Dash accused Daniels of breach of contract over a Richard Pryor biopic they were both planning on working on. A video of Dash confronting Daniels' over the money surfaced on the Internet last year.
Although it wasn't revealed how much Daniels paid Dash, clearly it's enough to clear off a hefty debt for Dash.