Godfather of Soul suing to the judge.James Brown's investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. says the "Godfather of Soul," has to pay to be the boss of his royalties. David Pullman of New York-based Pullman Group L.L.C. is suing Brown in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of state court for breach of contract. Brown is countersuing. No trial date had been set by press time. Back in 1999, Brown obtained $26 million when Pull man packaged his future music royalties into corporate bonds. In July, Brown tried to refinance his bond deal for $25 million through the Royal Bank of Scotland
The Royal Bank of Scotland Plc (Scottish Gaelic: Banca Rìoghail na h-Alba . But Pullman blocked the loan saying he owns the rights. He would want "eight figures" to release them, he says. Industry insiders say that Pullman is known for structuring faulty deals that strip artists of their money and their rights. Pullman maintains that Brown's law firm, Greenberg Traurig Greenberg Traurig LLP is an international law firm with approximately 1,700 attorneys and governmental professionals in 29 locations in the United States, Europe and Asia. Its presence in Europe is supplemented by strategic alliances with Olswang (offices in London, United Kingdom L.L.P., "screwed up" by misinterpreting the initial bond agreement. "Poor James," Pullman says. "I think he has a good claim against his attorneys." |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion