50 Cent has failed in his bid to recover over $10 million (£6.7 million) from incarcerated rapper Young Buck after the alleged debt was wiped out as part of his former pal's bankruptcy filing.

The embattled star, real name David Brown, declared he was broke in 2010 after running into serious tax troubles, prompting Internal Revenue Service agents to raid his Tennessee home and confiscate his possessions.

50 Cent filed a claim with Young Buck's bankruptcy trustee seeking the repayment of $171,000 (£114,000), the outstanding balance of a $300,000 (£200,000) personal loan, while the In Da Club hitmaker, a co-founder of G-Unit Records, also teamed up with executives at parent company Universal Music Group to demand the return of $10 million over a contract dispute.

However, a U.S. judge has since ruled Young Buck no longer has to pay the two creditors and has written off the debts, according to Tmz.com.

Instead, the remaining $330,000 (£220,000) of the rapper's funds will be split between the Irs, his bankruptcy trustee and the lawyers handling the case.

Meanwhile, there has been more good news for Young Buck - he is reportedly set to walk free from prison in late November (13). He is currently serving out an 18-month sentence for tax evasion and unrelated weapons charges.

The star was booted out of 50's G-Unit group in 2008 after the hip-hop mogul accused him of disloyalty.