The Estate Discussion - Part 6

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Reply #690 posted 02/03/17 7:59pm

laurarichardso
n

morningsong said:

I'm not understanding what this is saying. Seems that Prince did enter into some kind of agreement with Tidal to stream, but not NPG *** which is owned by the Estate. Then the paragraph below seems to say something different.

The Petition also references an “Artist Equity Term Sheet” and a “Distribution Agreement.” The “Artist Equity Term Sheet” was apparently not disclosed to Bremer until after the parties entered into a “Confidentiality Stipulation” on or about January 3, 2017. The “Artist Equity Term Sheet” is between “Project Panther Ltd., a Cayman Islands Limited Company (“Company”) and the recording artist professionally known as “Prince” (“Artist”).” The subject of the “Artist Equity Term Sheet” is identified as “The Platform: Company has launched and operates an on demand, subscription based, digital streaming distribution platform, which is currently branded as “Tidal.” The document is signed by Decedent as “Artist,” not on behalf of either NPG Records, Inc. or NPG Music Publishing, LLC.

The “Distribution Agreement” referenced in the Petition is apparently the same document as the Letter of Intent between WiMP Music AS (“Tidal”) and NPG Records, Inc/NPG Music Publishing, LLC dated August 1, 2015. The record is unclear as to the alleged relationships between Roc Nation LLC, WiMP Music AS, Project Panther Ltd., and Aspiro AB, however for purposes of the matter presently before the Court, they will assumed to be interrelated, with WiMP Music AS, Project Panther Ltd., and Aspiro AB falling under the R00 Nation umbrella. In addition to allowance of Roe Nation’s claim, the Petition also seeks access to any and all information within the possession of the Special Administrator concerning the distribution or exploitation of the Estate’s musical assets, and advance notice of any agreements or business dealings that may affect Roc Nation’s alleged claim and interest in the Estate. After his death, Tidal allegedly streamed Decedent’s entire catalog of music without authorization of Bremer or providing Bremer with documentation of their right to do so. As a result, and because most of Decedent’s music catalog is owned by NPG Records, Inc. and NPG Music Publishing, LLC, Bremer caused NPG Records, Inc. and NPG Music Publishing, LLC to file a complaint against Roc Nation and Aspiro AB in federal court for copyright infringement. That matter remains pending.

--Project Pathway is owned by JayZ and it is the corporate enity he used to purchase his stake in Tidal. The agreement is between Prince Rogers Nelson and Pathway/Jay Z not NPG Lll. Tidal also claims they made four payments to Prince Rogers Nelson and expect another Two CDs and for the agreement to go on until the agreeded upon portion of the advance is recouped or after 5 years. What I find interesting his where did the payments go. The company's is based out of the caymans. Could their be a unknown checking account.
[Edited 2/3/17 20:01pm]

morningsong	But it has many of Price's friends Either way it ain't happenin' no where near me. Am I just simply miss seeing Exhibit 1 or has it not filed yet?
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morningsong	ISaidLifeIsJustAGame said: laurarichardson said: ISaidLifeIsJustAGame said: Make A Wish claim was denied by the Judge in November 2016 --If you go under 1/31/2017 Down 5 from the top you will see Motion to seal settlement with Make A Wish. I am assuming they filed an appeal. [Edited 2/3/17 16:39pm] Thanks. To me it looks like its tied to Exhibit 1 and Roc Nation.
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1Sasha	Because the two sibling factions are fighting.
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morningsong	laurarichardson said: morningsong said: To me it looks like its tied to Exhibit 1 and Roc Nation. --No, if you scroll down to the 5th doc on 1/30 it actually mentions Make A Wish. OK. I'm getting the language twisted.
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nelcp777	morningsong said: laurarichardson said: --No, if you scroll down to the 5th doc on 1/30 it actually mentions Make A Wish. OK. I'm getting the language twisted. Personally, Bremer themselves should be liable for this claim. Not the Estate.
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morningsong	I'm having to re-read it 40x. I've been confusing Exihibit 1 with what's going on with RN, kept thinking it was the AETS, but I guess not.
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