In the latest development in the saga between Lil' Wayne and Cash Money Records, the platinum recording act is now suing the imprint for the sum of $51m.

TMZ who initially reported that Lil Wayne was suing the label now claim that they have the actual lawsuit.

In the document, Lil Wayne claims that Cash Money Records owes him $8m for failing to pay him his advance for the recording of Tha Carter V album.

He further stated that the label failed to pay him another $2m after he completed the recording of the album.

Lil' Wayne claims he has not received any payment from the label.

The 32 year old rapper is also asking for the joint ownership of Young Money Recordings.

According to TMZ, Cash Money Records can only drop the album when he fully compensates Wayne.

According to earlier reports, Lil Wayne was suing Cash Money for $8m.

Lil Wayne also wants to take his Young Money acts along with him.