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Judge Orders Investigation of Prince Estate's Voided Deal With Universal Music

8/22/2017 by Hannah Karp

The judge overseeing the Prince estate appointed a second special administrator to investigate whether anyone should be held liable for the cancellation of its $31 million recorded-music deal with Universal Music Group.

The new administrator, Peter Gleekel and his law firm Larson King LLC, is tasked with evaluating whether the estate has a "reasonable basis" to pursue a claim against any entity or individual connected with the July rescission of the deal, and whether it's in the estate's best interest to pursue such a claim.

The deal was one of several licensing agreements negotiated by the estate's former entertainment advisors Charles Koppelman and L. Londell McMillan, and approved by the estate's first special administrator, Bremer Trust, along with the judge.