Lovejunky said:

Phaedra was officially removed from the LLC on April 27..less than one week after Prince Passed...

http://www.mncourts.gov/mncourtsgov/media/CIOMediaLibrary/Documents/Order-on-Stipulation-Addressing-Phaedra-Ellis-Lamkins-Petition.pdf

WHAT THE HELL....not even 7 days are gone and someone is thinking BUSINESS ?

I dont GET WHY she was removed, who removed her OR WHY did she step down..

Either way makes no sense since SHE was the ONE who WON his fight...

gaaaaaaaaaaaaaaahhhhhhhhh

The April 27 date is the date they opened up the Estate and it is the date that was

agreed upon by Phaedra and the Estate in order to settle her Petition.

Phaedra did not want to be held individually liable for anything she did as Manager of

the LLC after P's death, and this date was agreed upon by all parties, thereby

relieving her of responsibility.

[Edited 2/20/17 20:16pm]

ISaidLifeIsJustAGame said:

Lovejunky said:

Phaedra was officially removed from the LLC on April 27..less than one week after Prince Passed...

http://www.mncourts.gov/mncourtsgov/media/CIOMediaLibrary/Documents/Order-on-Stipulation-Addressing-Phaedra-Ellis-Lamkins-Petition.pdf

WHAT THE HELL....not even 7 days are gone and someone is thinking BUSINESS ?

I dont GET WHY she was removed, who removed her OR WHY did she step down..

Either way makes no sense since SHE was the ONE who WON his fight...

gaaaaaaaaaaaaaaahhhhhhhhh

The April 27 date is the date they opened up the Estate and it is the date that was

agreed upon by Phaedra and the Estate in order to settle her Petition.

Phaedra did not want to be held individually liable for anything she did as Manager of

the LLC after P's death, and this date was agreed upon by all parties, thereby

relieving her of responsibility.

[Edited 2/20/17 20:16pm]

Thank you...

BUT still...

you know..........................................

Lovejunky said:

I just wish this was over. Is anyone telling the truth, or revealing facts? There are two camps fighting this out - always have been - and it doesn't appear this will change any time soon.

1Sasha said:

I just wish this was over. Is anyone telling the truth, or revealing facts? There are two camps fighting this out - always have been - and it doesn't appear this will change any time soon.

If the judge would stop allowing claims in, it might go faster. Just like the chick who said she was on the phone with Prince while Tyka killed him....seriously??? The judge allowed this??

PennyPurple said:

Lovejunky said:

PurpleDiamonds1 said:

Lovejunky said:

Phaedra was officially removed from the LLC on April 27..less than one week after Prince Passed...

http://www.mncourts.gov/mncourtsgov/media/CIOMediaLibrary/Documents/Order-on-Stipulation-Addressing-Phaedra-Ellis-Lamkins-Petition.pdf

WHAT THE HELL....not even 7 days are gone and someone is thinking BUSINESS ?

I dont GET WHY she was removed, who removed her OR WHY did she step down..

Either way makes no sense since SHE was the ONE who WON his fight...

gaaaaaaaaaaaaaaahhhhhhhhh

Phaedra was not the only one ... There were 3 at the WB signing, Princes Attny Rhonda Trotter, Van and Phaedra. I agree something fishy went on. The Attny was not heard from, Phaedra changed her linkedin to say she stopped working for P in 2015...why would she say that when she was officially removed April 27,2016

The other attorneys are probaly entertainment lawyers. Prince was their client they did what they were paid to do and there is nothing else to be known about them as I doubt they want to be known.

Something is fishy with the firing and the wrangling over the dates.

Lovejunky said:

ISaidLifeIsJustAGame said:

The April 27 date is the date they opened up the Estate and it is the date that was

agreed upon by Phaedra and the Estate in order to settle her Petition.

Phaedra did not want to be held individually liable for anything she did as Manager of

the LLC after P's death, and this date was agreed upon by all parties, thereby

relieving her of responsibility.

[Edited 2/20/17 20:16pm]

Thank you...

BUT still...

you know..........................................

Check out this article and realize that Jobu is the same company that sued over the Make A Wish foundation canceled event. Why would Londell enter a deal with a company that was suing the estate and did receive a settlement? Did Londell get a consulting fee from Jobu? Who is Jobu Presents.

---

http://www.startribune.co...411817796/

Prince heirs say musician's tribute concert was mismanaged

New court filings allege promoters took funds that should have gone to estate.

By David Chanen Star Tribune

January 26, 2017 — 12:07am

Renee Jones Schneider - Star Tribune file, TNS - TNS Stevie Wonder and Chaka Khan performed at the Prince Tribute Concert at the Xcel Energy Center on Thursday, Oct. 13, 2016, in St. Paul.

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The two heirs expected to receive a significant share of Prince’s massive estate are seeking at least $7 million more from a botched tribute concert in October.

In a court document filed Wednesday, Prince’s sister Tyka Nelson and his half-brother Omarr Baker accused Bremer Trust and well-known entertainment lawyers L. Londell McMillan and Charles Koppelman of mismanaging the star-studded concert and refusing to turn over profits.

In an estate court hearing several weeks ago, an attorney for Nelson accidentally mentioned a confidential figure of $7 million that was supposed to be a guaranteed payment to the estate from concert proceeds.

The dollar figure that the estate did get from the concert was redacted, as was the amount they expected to get.

Nearly 100 musicians, including Stevie Wonder and Chaka Khan, performed at the five-hour concert at Xcel Center in St. Paul. The concert originally was planned for the much larger U.S. Bank Stadium, and many artists dropped out along the way.

Bremer Trust, McMillan and Koppelman didn’t return telephone calls for comment Wednesday.

Prince died of an accidental fentanyl overdose at Paisley Park studio on April 21. During court hearings in January, attorneys for Bremer Trust and the six relatives expected to be heirs said the Prince estate is the most complex in Minnesota history. No will has been found, and Carver County District Court has received more than one thousand filings in his case.

Earlier in January, Bremer Trust was discharged as special administrator of Prince’s estate, which is conservatively estimated at nearly $300 million. Bremer Trust was replaced by Comerica Bank & Trust. McMillan and CNN commentator Van Jones, each with the backing of certain family members, applied to be co-executor of the estate with Comerica, but Judge Kevin Eide rejected both men.

Ongoing issues in Prince’s estate also were detailed in another court filing Wednesday from attorney Laura Halferty, whose firm provided legal services and advice for Bremer Trust. She asked the court to approve payment of nearly $1.6 million in fees for work done from October to December. Five other law firms also asked for fee payments totally nearly $400,000.

The fees were reasonable because of the time and labor required, Halferty argued. Her firm’s work included negotiating entertainment deals and legal issues related to the Paisley Park Museum, licensing, intellectual property and real estate.

Nelson and Baker are asking Eide to delay Bremer Trust’s discharge until Bremer can give a more complete accounting of Prince’s estate. Most of the items listed in the accounting report said “valuation in process.”

“For an estate that involves highly complex entertainment deals and substantial music holdings, this is insufficient,” the court document said.

The filing said that Bremer Trust breached its fiduciary duty by mismanaging the tribute concert and failing to fire McMillan and Koppelman when the original concert plans were falling apart. Jobu Presents backed out of the concert, but still paid McMillan a consulting commission, the document said.

After Bremer “bungled” the tribute concert deal and McMillan took estate assets before and after the concert, Bremer claimed they weren’t a party to any of the concert contracts, the document said.

Jobu said that McMillan and Koppelman failed to secure promised talent. When Jobu Presents backed out, McMillan stepped in and promoted the concert himself.

The court document said Bremer should have terminated McMillan and Koppelman for their “misrepresentations” or at least reigned them and exercised more control.

“To date, we have no clear way of knowing who profited from ticket sales, parking, television rights, radio/streaming rights, merchandising, concessions, etc. of the concert,” the document said. “Mr. McMillan profited greatly from the sold-out concert and the after party from the use and exploitation of estate assets.”

laurarichardson said:

Lovejunky said:

Thank you...

BUT still...

you know..........................................

Check out this article and realize that Jobu is the same company that sued over the Make A Wish foundation canceled event. Why would Londell enter a deal with a company that was suing the estate and did receive a settlement? Did Londell get a consulting fee from Jobu? Who is Jobu Presents.

---

http://www.startribune.co...411817796/

Prince heirs say musician's tribute concert was mismanaged

New court filings allege promoters took funds that should have gone to estate.

By David Chanen Star Tribune

January 26, 2017 — 12:07am

Renee Jones Schneider - Star Tribune file, TNS - TNS Stevie Wonder and Chaka Khan performed at the Prince Tribute Concert at the Xcel Energy Center on Thursday, Oct. 13, 2016, in St. Paul.

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comment19

share

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The two heirs expected to receive a significant share of Prince’s massive estate are seeking at least $7 million more from a botched tribute concert in October.

In a court document filed Wednesday, Prince’s sister Tyka Nelson and his half-brother Omarr Baker accused Bremer Trust and well-known entertainment lawyers L. Londell McMillan and Charles Koppelman of mismanaging the star-studded concert and refusing to turn over profits.

In an estate court hearing several weeks ago, an attorney for Nelson accidentally mentioned a confidential figure of $7 million that was supposed to be a guaranteed payment to the estate from concert proceeds.

The dollar figure that the estate did get from the concert was redacted, as was the amount they expected to get.

Nearly 100 musicians, including Stevie Wonder and Chaka Khan, performed at the five-hour concert at Xcel Center in St. Paul. The concert originally was planned for the much larger U.S. Bank Stadium, and many artists dropped out along the way.

Bremer Trust, McMillan and Koppelman didn’t return telephone calls for comment Wednesday.

Prince died of an accidental fentanyl overdose at Paisley Park studio on April 21. During court hearings in January, attorneys for Bremer Trust and the six relatives expected to be heirs said the Prince estate is the most complex in Minnesota history. No will has been found, and Carver County District Court has received more than one thousand filings in his case.

Earlier in January, Bremer Trust was discharged as special administrator of Prince’s estate, which is conservatively estimated at nearly $300 million. Bremer Trust was replaced by Comerica Bank & Trust. McMillan and CNN commentator Van Jones, each with the backing of certain family members, applied to be co-executor of the estate with Comerica, but Judge Kevin Eide rejected both men.

Ongoing issues in Prince’s estate also were detailed in another court filing Wednesday from attorney Laura Halferty, whose firm provided legal services and advice for Bremer Trust. She asked the court to approve payment of nearly $1.6 million in fees for work done from October to December. Five other law firms also asked for fee payments totally nearly $400,000.

The fees were reasonable because of the time and labor required, Halferty argued. Her firm’s work included negotiating entertainment deals and legal issues related to the Paisley Park Museum, licensing, intellectual property and real estate.

Nelson and Baker are asking Eide to delay Bremer Trust’s discharge until Bremer can give a more complete accounting of Prince’s estate. Most of the items listed in the accounting report said “valuation in process.”

“For an estate that involves highly complex entertainment deals and substantial music holdings, this is insufficient,” the court document said.

The filing said that Bremer Trust breached its fiduciary duty by mismanaging the tribute concert and failing to fire McMillan and Koppelman when the original concert plans were falling apart. Jobu Presents backed out of the concert, but still paid McMillan a consulting commission, the document said.

After Bremer “bungled” the tribute concert deal and McMillan took estate assets before and after the concert, Bremer claimed they weren’t a party to any of the concert contracts, the document said.

Jobu said that McMillan and Koppelman failed to secure promised talent. When Jobu Presents backed out, McMillan stepped in and promoted the concert himself.

The court document said Bremer should have terminated McMillan and Koppelman for their “misrepresentations” or at least reigned them and exercised more control.

“To date, we have no clear way of knowing who profited from ticket sales, parking, television rights, radio/streaming rights, merchandising, concessions, etc. of the concert,” the document said. “Mr. McMillan profited greatly from the sold-out concert and the after party from the use and exploitation of estate assets.”

In regards to whether or not Londell received a consultant fee from Jobu, I believe the answer is yes! Even though the estate did not get paid, Londell did....regardless

precioux said:

laurarichardson said:

Check out this article and realize that Jobu is the same company that sued over the Make A Wish foundation canceled event. Why would Londell enter a deal with a company that was suing the estate and did receive a settlement? Did Londell get a consulting fee from Jobu? Who is Jobu Presents.

---

http://www.startribune.co...411817796/

Prince heirs say musician's tribute concert was mismanaged

New court filings allege promoters took funds that should have gone to estate.

By David Chanen Star Tribune

January 26, 2017 — 12:07am

Renee Jones Schneider - Star Tribune file, TNS - TNS Stevie Wonder and Chaka Khan performed at the Prince Tribute Concert at the Xcel Energy Center on Thursday, Oct. 13, 2016, in St. Paul.

Text size

comment19

share

tweet

email

Print

more

The two heirs expected to receive a significant share of Prince’s massive estate are seeking at least $7 million more from a botched tribute concert in October.

In a court document filed Wednesday, Prince’s sister Tyka Nelson and his half-brother Omarr Baker accused Bremer Trust and well-known entertainment lawyers L. Londell McMillan and Charles Koppelman of mismanaging the star-studded concert and refusing to turn over profits.

In an estate court hearing several weeks ago, an attorney for Nelson accidentally mentioned a confidential figure of $7 million that was supposed to be a guaranteed payment to the estate from concert proceeds.

The dollar figure that the estate did get from the concert was redacted, as was the amount they expected to get.

Nearly 100 musicians, including Stevie Wonder and Chaka Khan, performed at the five-hour concert at Xcel Center in St. Paul. The concert originally was planned for the much larger U.S. Bank Stadium, and many artists dropped out along the way.

Bremer Trust, McMillan and Koppelman didn’t return telephone calls for comment Wednesday.

Prince died of an accidental fentanyl overdose at Paisley Park studio on April 21. During court hearings in January, attorneys for Bremer Trust and the six relatives expected to be heirs said the Prince estate is the most complex in Minnesota history. No will has been found, and Carver County District Court has received more than one thousand filings in his case.

Earlier in January, Bremer Trust was discharged as special administrator of Prince’s estate, which is conservatively estimated at nearly $300 million. Bremer Trust was replaced by Comerica Bank & Trust. McMillan and CNN commentator Van Jones, each with the backing of certain family members, applied to be co-executor of the estate with Comerica, but Judge Kevin Eide rejected both men.

Ongoing issues in Prince’s estate also were detailed in another court filing Wednesday from attorney Laura Halferty, whose firm provided legal services and advice for Bremer Trust. She asked the court to approve payment of nearly $1.6 million in fees for work done from October to December. Five other law firms also asked for fee payments totally nearly $400,000.

The fees were reasonable because of the time and labor required, Halferty argued. Her firm’s work included negotiating entertainment deals and legal issues related to the Paisley Park Museum, licensing, intellectual property and real estate.

Nelson and Baker are asking Eide to delay Bremer Trust’s discharge until Bremer can give a more complete accounting of Prince’s estate. Most of the items listed in the accounting report said “valuation in process.”

“For an estate that involves highly complex entertainment deals and substantial music holdings, this is insufficient,” the court document said.

The filing said that Bremer Trust breached its fiduciary duty by mismanaging the tribute concert and failing to fire McMillan and Koppelman when the original concert plans were falling apart. Jobu Presents backed out of the concert, but still paid McMillan a consulting commission, the document said.

After Bremer “bungled” the tribute concert deal and McMillan took estate assets before and after the concert, Bremer claimed they weren’t a party to any of the concert contracts, the document said.

Jobu said that McMillan and Koppelman failed to secure promised talent. When Jobu Presents backed out, McMillan stepped in and promoted the concert himself.

The court document said Bremer should have terminated McMillan and Koppelman for their “misrepresentations” or at least reigned them and exercised more control.

“To date, we have no clear way of knowing who profited from ticket sales, parking, television rights, radio/streaming rights, merchandising, concessions, etc. of the concert,” the document said. “Mr. McMillan profited greatly from the sold-out concert and the after party from the use and exploitation of estate assets.”

In regards to whether or not Londell received a consultant fee from Jobu, I believe the answer is yes! Even though the estate did not get paid, Londell did....regardless

Well with Coamerica bank in charge let us hope his days of cutting a side deal for himself are over. I hope he enjoys his ill gotten gains. Unless he thinks he is going to get rich representing Sharon Nelson as a jazz singer.

So it's $8,000,000 in Fed Taxes?


I had to laugh at one redacted part, it's like who can't do that math.

morningsong said:

rogifan said:

morningsong said:

So it's $8,000,000 in Fed Taxes?


I had to laugh at one redacted part, it's like who can't do that math.

So $12M in total estate taxes? Was that calculated including estimated value of the vault?

I am thinking maybe but I thought I saw something that said the vault material could not have a value asssed at this time. We know that the estate said they paid 21 million in toward the taxes.

morningsong said:

So it's $8,000,000 in Fed Taxes?


I had to laugh at one redacted part, it's like who can't do that math.

This is very different from the original inventory sheet which I have a copy of. I am thinking they paid some bills, collected some income, paid taxes and readacted a lot of information.

We still do not seem to know the vaulte of the vault unless they have not figured it out yet.

laurarichardson said:

morningsong said:

So it's $8,000,000 in Fed Taxes?


I had to laugh at one redacted part, it's like who can't do that math.

This is very different from the original inventory sheet which I have a copy of. I am thinking they paid some bills, collected some income, paid taxes and readacted a lot of information.

We still do not seem to know the vaulte of the vault unless they have not figured it out yet.

Laura, its because it is an Accounting only.

An Inventory would include different items.

It appears this is a payment on taxes due, and not the full amount.

ISaidLifeIsJustAGame said:

laurarichardson said:

This is very different from the original inventory sheet which I have a copy of. I am thinking they paid some bills, collected some income, paid taxes and readacted a lot of information.

We still do not seem to know the vaulte of the vault unless they have not figured it out yet.

Laura, its because it is an Accounting only.

An Inventory would include different items.

It appears this is a payment on taxes due, and not the full amount.

I thought they said they paid 21 milion or is the 21 mill the whole amount and they just paid an installment payment?

laurarichardson said:

ISaidLifeIsJustAGame said:

Laura, its because it is an Accounting only.

An Inventory would include different items.

It appears this is a payment on taxes due, and not the full amount.

I thought they said they paid 21 milion or is the 21 mill the whole amount and they just paid an installment payment?

It appears to be an installment payment.

They paid $4 mil to Minnesota too.

rogifan said:

morningsong said:

So it's $8,000,000 in Fed Taxes?


I had to laugh at one redacted part, it's like who can't do that math.

So $12M in total estate taxes? Was that calculated including estimated value of the vault?

I'm wondering is this the remaining balance? Or something different?

ISaidLifeIsJustAGame said:

laurarichardson said:

I thought they said they paid 21 milion or is the 21 mill the whole amount and they just paid an installment payment?

It appears to be an installment payment.

They paid $4 mil to Minnesota too.

Wasn't the original estate tax estimated at around $100 million, and part was due (installment payment) in January?

precioux said:

precioux said:

ISaidLifeIsJustAGame said:

It appears to be an installment payment.

They paid $4 mil to Minnesota too.

Wasn't the original estate tax estimated at around $100 million, and part was due (installment payment) in January?

That what's being projected based on tax rules but I don't know if that's what they really have to pay. Doesn't look like it. Then again.

laurarichardson said:

It does not matter what date they settled that Londell and Breamer had her removed immediatly is odd. Keep in mind this was before they had the Universal deal signed so who was acting as admin all this time. Something is fishy about the way it went down and at this point I do not see what Univesal is doing that is so great. I see no official merchandise, music is still up on YouTube, people are still making bootlegg merchandise. He got rid of Universal for some reason. Makes you wonder.

What happened to Phaedra was not odd.

Londell had nothing to do with Phaedra's removal.

This is typical in an Estate matter.

When Bremer was appointed by the Judge to be Special Adminstrator of

P's Estate, it took exclusive authority over P's businesses.

This is comparable to an Executor of an Estate.

In simplest terms, Bremer "stepped into the shoes" of Prince once they

were appointed as Special Adminstrator.

ISaidLifeIsJustAGame said:

ISaidLifeIsJustAGame said:

laurarichardson said:

It does not matter what date they settled that Londell and Breamer had her removed immediatly is odd. Keep in mind this was before they had the Universal deal signed so who was acting as admin all this time. Something is fishy about the way it went down and at this point I do not see what Univesal is doing that is so great. I see no official merchandise, music is still up on YouTube, people are still making bootlegg merchandise. He got rid of Universal for some reason. Makes you wonder.

What happened to Phaedra was not odd.

Londell had nothing to do with Phaedra's removal.

This is typical in an Estate matter.

When Bremer was appointed by the Judge to be Special Adminstrator of

P's Estate, it took exclusive authority over P's businesses.

This is comparable to an Executor of an Estate.

In simplest terms, Bremer "stepped into the shoes" of Prince once they

were appointed as Special Adminstrator.

Yes, but don't you think it was kind of fast becuase someone had to act as the admin while massive copyright infringement has been occuring. I am not so sure Breamer or Londell were up to the job. Would it haven not have made sense too wait until the Universal deal was in place and then transfer duties over to them?

Read the court docs. No speculation

Vox said:

Thanks for your willingness to share factual information as background to what I don't begin to understand. I appreciate getting a handle on reality rather than speculation. ISaidLifeIsJustAGame said:

What happened to Phaedra was not odd.

Londell had nothing to do with Phaedra's removal.

This is typical in an Estate matter.

When Bremer was appointed by the Judge to be Special Adminstrator of

P's Estate, it took exclusive authority over P's businesses.

This is comparable to an Executor of an Estate.

In simplest terms, Bremer "stepped into the shoes" of Prince once they

were appointed as Special Adminstrator.

I have thought the process should have taken a year - move through it slowly and methodically. But the estate needed cash for the tax bills, among other expenses.

ISaidLifeIsJustAGame said:

What happened to Phaedra was not odd.

Londell had nothing to do with Phaedra's removal.

This is typical in an Estate matter.

When Bremer was appointed by the Judge to be Special Adminstrator of

P's Estate, it took exclusive authority over P's businesses.

This is comparable to an Executor of an Estate.

In simplest terms, Bremer "stepped into the shoes" of Prince once they

were appointed as Special Adminstrator.

Thank you ISaidLifeIsJustAGame! I didn't see anything odd about it at all, it made perfect sense given the circumstances. I imagine the same would have happened to anyone who was "in charge" of any aspect of his business once the court appointed Bremer, correct?


ETA: I thought it might be helpful to add the court file here if anyone wants to see the letter that was sent to Phaedra. It's on page 4 of this file: http://www.mncourts.gov/m...s-1-3).pdf

[Edited 2/22/17 8:49am]

1Sasha said: