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Lil Wayne applied more pressure in his long-standing dispute with Cash Money Records on Wednesday by filing an amended petition in a New Orleans court which includes the label's co-owners Bryan "Birdman" Williams and Ronald "Slim" Williams, as well as Universal Music Group. Wayne, who is seeking more than $40 million in actual damages, claims that Cash Money has yet to pay him the $8 million advance he's owed for Tha Carter V, and is preventing him from receiving any profits he should made off the success of Young Money acts Drake and Nicki Minaj.
The latter part is a real point of contention for Wayne, who is accusing Cash Money and Universal Music Group of conspiring to withhold money he should have made through Drake's solo recordings. When Young Money was created in 2003, Wayne allegedly worked out an agreement which granted him partial ownership as well as a portion of the money made off any artist on the imprint.
"Despite Universal being aware of Cash Money’s obligations to pay royalties and profits to Plaintiffs, and Cash Money’s failure to do so, Universal made a series of huge cash advances to Cash Money which Universal contended were nonetheless collateralized by, and recoupable by Universal against, the future revenues on Drake and other artist records and albums delivered by Cash Money," the amended petition states. "Universal knew that Cash Money would not reserve from such advances sufficient funds to meet its obligations to Plaintiffs, pay to Plaintiffs earnings on the records co-owned by them, or to pay or account to other artists or vendors."
Wayne is seeking the appointment of a liquidator for Cash Money's assets, a permanent injunction, and the right to release Tha Carter V whichever way he chooses.