Delaware court awards Wallace trust $12.5 million

The Delaware Court of Chancery ruled that the Voletta Wallace Revocable Trust is entitled to $12,518,336 in distributions from Notorious B.I.G., LLC, rejecting the company’s proposed $48,612 limit and awarding quarterly compounded interest. The October 27, 2026, decision by Chancellor Kathaleen St. J. McCormick covers distributions dating from Voletta Wallace’s death on February 21, 2025. The court found that the trust’s economic rights began at Wallace’s death, although it formally became a member of the company on December 12, 2025. The award concerns earnings owed to the trust from the company, which Wallace and Faith Evans established in 2007 to manage the late rapper’s intellectual property. Evans manages the company. The court also ordered prejudgment interest, compounded quarterly, on distributions from the dates they became payable. The final total after interest has not been established. Jay Freiberg, an attorney for Wayne Barrow, told Billboard it would approach $14 million, an estimate rather than the court’s stated principal award. The dispute arose after Wallace’s death, when Barrow, the rapper’s former manager and trustee of Wallace’s estate, sought recognition...