Judge George C. Paine II signed an order converting the case from Chapter 11 reorganization to Chapter 7 liquidation Wednesday, and Buck, whose real name is David Darnell Brown, stands to lose more than his shirt. The trustee administering his estate has said she plans to sell the trademarked “Young Buck” moniker itself along with other assets.

In an interview Wednesday night, an exasperated Buck, 30, said the conversion is counterproductive because he was close to signing a recording deal with Cash Money Records that would allow him to pay all his debts and exit bankruptcy orderly.

The proposed multiparty deal, independently confirmed by The Tennessean, would have settled Buck’s contract dispute with former mentor 50 Cent and his G-Unit Records and shipped him to New Orleans-based Cash Money. Buck is still under contract with G-Unit but has been prevented from recording since 2008 because of a personal falling-out with 50 Cent, whose real name is Curtis Jackson.

But trustee Jeanne Burton, who was appointed to shepherd Buck’s estate through bankruptcy, was forced to seek liquidation because there was no money left to pay bills coming due, said Barbara Holmes, a Nashville attorney representing Burton in the case.

“There was no deal finalized within the time frame that was necessary for the case to remain in Chapter 11,” Holmes said. “There are insufficient remaining funds in the estate to pay the ongoing administrative expenses that are due.”

Under Chapter 11, Buck would be able to craft a plan to repay creditors using future revenues. Under Chapter 7, his assets can be sold and distributed to creditors. Buck entered bankruptcy in October 2010.

Buck said the trustee’s move was shortsighted.

“I just wish the trustee would understand that I’m actually in a position to actually work again,” he said. “Either way it goes, you’re going to get paid. I’d be back working again. My income would only grow just by being a part of a company that’s as big as Cash Money and by being an artist as talented as I am. Cash Money provides me with a job to pay off the bankruptcy and creditors.”

Cash Money is one of the nation’s leading hip-hop labels and features artists such as Lil’ Wayne and Nicki Minaj.

Messages left for attorneys representing Cash Money and G-Unit were not returned.

It’s not clear what impact the conversion to Chapter 7 will have on the proposed deal reached between Buck, G-Unit and Cash Money, but Buck and his entertainment lawyer, Robin Mitchell Joyce, said they still hope to move forward.

They are frustrated, however, that Burton has indicated she would liquidate the “Young Buck” trademark if the case was converted to Chapter 7.

“My name, Young Buck, has been with me since I was 12, 13 years old,”

Buck said. “At the end of the day, it’s ridiculous. My name wasn’t given to me by G-Unit Records. They didn’t name me Young Buck. My mother calls me Young Buck.”

Holmes, however, said the trademark and other intellectual property rights belong to the bankruptcy estate so they can be liquidated to pay creditors and notified Cash Money’s attorney of that position. The move would prevent any artist or label from using the trademark without Burton’s approval, which probably would require a consideration of the outstanding debts owed to Buck’s creditors.

Buck also is facing a pending federal criminal charge of being a convicted felon in possession of a gun and ammunition. The case is scheduled to go to trial in April.