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Reply #30 posted 01/21/24 9:59am

LILpoundCAKE


i read the title of this thread as:


Prince Estate Civil War: Heirs Battle Over New bathing suit launch


I mean, it wouldn't be out of the realm of things possible at this point lol



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Reply #31 posted 01/21/24 1:44pm

rap

happyshopper said:

FrankieCoco1 said:
“lawsuit claims that both women then attempted to unilaterally sell their shares in the holding company to Primary Wave” Is this perhaps the real prompt for the lawsuit?
. I think this is almost certainly the reason. And would probably be far better for us if it happens. Primary Wave will want more releases and his catalog fully available.

In other words, McMillan and Spicer know that their time could soon be up.

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Reply #32 posted 01/21/24 6:31pm

PennyPurple

avatar

rap said:

happyshopper said:

FrankieCoco1 said: . I think this is almost certainly the reason. And would probably be far better for us if it happens. Primary Wave will want more releases and his catalog fully available.

In other words, McMillan and Spicer know that their time could soon be up.

They are too sneaky for their time to be up. They shouldn't have even been let back in.

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Reply #33 posted 01/22/24 12:13am

fredmagnus

PennyPurple said:

rap said:

In other words, McMillan and Spicer know that their time could soon be up.

They are too sneaky for their time to be up. They shouldn't have even been let back in.

Say thanks to Sharon.

If she had been wise, she'd have sold her shares long ago to PW.

[Edited 1/22/24 0:16am]

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Reply #34 posted 01/22/24 3:07pm

FrankieCoco1
https://news.bloomberglaw...tate-fight

This article says,

A fight over the management of pop icon Prince’s estate also could be fast-tracked this week, amid ongoing trials:

Thursday: McMillan v. Nelson, Del. Ch., No. 2024-0016, teleconference 1/25/24.

At issue: The nephew and two longtime friends of music legend Prince want to speed things up in their lawsuit alleging four of his other relatives are wrongfully trying to seize control of a company set up to run the pop icon’s estate. The lawsuit filed earlier this month follows a 2022 Minnesota probate settlement that divided Prince’s $156 million estate between his family and friends, on the one hand, and entertainment company Primary Wave Music LLC. Prince died in 2016 without a will.

Court action: Oral arguments on the motion to expedite will be heard by phone.
There may or may not be something coming!
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Reply #35 posted 01/23/24 3:44am

happyshopper

i don't understand how employees got to the point of running the whole thing, and now battling Prince's family to stay in control. Madness. eek

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Reply #36 posted 01/24/24 12:15pm

purplethunder3
121

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As usual there won't be much "estate" left after haggling in the legal system is done... rolleyes

[Edited 1/24/24 12:16pm]

"Music gives a soul to the universe, wings to the mind, flight to the imagination and life to everything." --Plato

https://youtu.be/CVwv9LZMah0
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Reply #37 posted 01/24/24 2:50pm

motherfunka

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happyshopper said:

i don't understand how employees got to the point of running the whole thing, and now battling Prince's family to stay in control. Madness. eek


From my understanding, on the Prince Legacy side, the heirs gave Londell and Charles each 5%. They decided on Londell and Charles being Managing members. So now they manage it with 2 people on the Primary Wave side (Prince OAT).

TRUE BLUE
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Reply #38 posted 01/25/24 3:15am

Vannormal

This liquid-shit stank could delay any release for another three years...

I hope i am wrong.

"The whole problem with the world is that fools and fanatics are always so certain of themselves. And wiser people so full of doubts" (Bertrand Russell 1872-1972)
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Reply #39 posted 01/28/24 11:32am

laytonian
Everybody tried to get him to plan his estate but he put it off.

But a WILL would have been challenged like James Brown's was-- for 15 years.

At the heart of the issue: To whom would be have left his estate to?
Only Tyka--his only full relative?
The Jehovah's Witnesses?
A charity?

I think that's the issue.
He really had no one

A trust (not a will) would have been good but the problem remains the same.
[Edited 1/28/24 12:00pm]
Welcome to "the org", laytonian… come bathe with me.
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Reply #40 posted 01/28/24 3:17pm

funkbabyandthe
babysitters
I wonder if he could have left it to mayte
But either way, he could have nominated a custodian
Or worked with a company like primary wave to make a charity a beneficiary
He did nothing though
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Reply #41 posted 01/29/24 12:26pm

FrankieCoco1
Latest article I’ve found about things:

https://thesource.com/202...ce-legacy/

“Following a hearing today [25 January 2024] in the Delaware Court of Chancery, Chancellor Kathaleen St. J. McCormick ruled in favor of the current Managers of Prince Legacy, LLC, ordering that L. Londell McMillan and Charles Spicer shall continue as managing members of the company during the pendency of their lawsuit against certain members of the company who attempted to amend the LLC agreement and insert themselves as managers.”
There may or may not be something coming!
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Reply #42 posted 01/29/24 1:01pm

motherfunka

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FrankieCoco1 said:

Latest article I’ve found about things: https://thesource.com/202...ce-legacy/ “Following a hearing today [25 January 2024] in the Delaware Court of Chancery, Chancellor Kathaleen St. J. McCormick ruled in favor of the current Managers of Prince Legacy, LLC, ordering that L. Londell McMillan and Charles Spicer shall continue as managing members of the company during the pendency of their lawsuit against certain members of the company who attempted to amend the LLC agreement and insert themselves as managers.”


Of course The Source would have it, since Londell owns it. rolleyes

TRUE BLUE
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Reply #43 posted 01/29/24 3:17pm

PennyPurple

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motherfunka said:

FrankieCoco1 said:

Latest article I’ve found about things: https://thesource.com/202...ce-legacy/ “Following a hearing today [25 January 2024] in the Delaware Court of Chancery, Chancellor Kathaleen St. J. McCormick ruled in favor of the current Managers of Prince Legacy, LLC, ordering that L. Londell McMillan and Charles Spicer shall continue as managing members of the company during the pendency of their lawsuit against certain members of the company who attempted to amend the LLC agreement and insert themselves as managers.”


Of course The Source would have it, since Londell owns it. rolleyes

Londell owns it? mad

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Reply #44 posted 01/29/24 3:26pm

FrankieCoco1
At the end of the article I posted, it says, “*Disclosure: McMillan is also Chairman of The Source and Source Digital, Inc., the company that owns and operates www.thesource.com.”
There may or may not be something coming!
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Reply #45 posted 01/31/24 8:31pm

kewlschool

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RODSERLING said:

It s sad but that's what lawyers do to make their living : suing everybody they can sue.
We all want new releases, but frankly, that's a very small part of their business, and they could well do without.
MJ estate last released a new MJ album ( 8 songs!) Ten years ago. That don't prevent him from topping regularly the Forbes top 10 deceased celebrities since.

Prince is regularly in the top 5 too : the money is obviously not coming from new releases, but from licensing deals, etc.


The SOTT BOX SET MADE SO MUCH MONEY THE IRS came back for more money. Keep in mind that 30 million didn’t include the DAP box set-it hadn’t been released yet. The super deluxe is a money maker. I wish they would do a box set of the nude tour and lovesexy tour for the USA. They could sell enough in the USA and wouldn’t run into several licensing issues like the SOTT CONCERT Film did.
99.9% of everything I say is strictly for my own entertainment
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Reply #46 posted 01/31/24 8:34pm

kewlschool

avatar

motherfunka said:



happyshopper said:


i don't understand how employees got to the point of running the whole thing, and now battling Prince's family to stay in control. Madness. eek




From my understanding, on the Prince Legacy side, the heirs gave Londell and Charles each 5%. They decided on Londell and Charles being Managing members. So now they manage it with 2 people on the Primary Wave side (Prince OAT).


Hopefully that 5% wasn’t forever like a manager. It should have a right to terminate in the contract. They probably sneaky will always get paid. I say get rid of those seemingly money grubbing folk.
99.9% of everything I say is strictly for my own entertainment
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Reply #47 posted 02/01/24 4:30pm

motherfunka

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kewlschool said:

motherfunka said:


From my understanding, on the Prince Legacy side, the heirs gave Londell and Charles each 5%. They decided on Londell and Charles being Managing members. So now they manage it with 2 people on the Primary Wave side (Prince OAT).

Hopefully that 5% wasn’t forever like a manager. It should have a right to terminate in the contract. They probably sneaky will always get paid. I say get rid of those seemingly money grubbing folk.


The owners on the Legacy side are Sharon, Norrine, Londell, Charles, and Johnny (who passed). In the lawsuit that Londell and Charles filed, it says the % they received was for their services during Comerica's time and loans they made to them. It sounds like it can't be taken away. It's actually kind of funny since Sharon was the one who brought them into the fold and now she can't get rid of them. She can't even sell off her shares now, unless they all agree to it.

TRUE BLUE
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Reply #48 posted 02/01/24 8:24pm

rap

We never heard what happened about Ian Halperin's search for Prince's will (that could be in Canada).

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Reply #49 posted 02/03/24 5:26pm

laytonian

rap said:

We never heard what happened about Ian Halperin's search for Prince's will (that could be in Canada).



That was a joke.
He DID have a will in Canada because he was married to M2 at a time. Like the will during the M1 marriage, it was dissolved in the divorce.

He didn't have a will. Sevwral employees during various periods of his life have talked about how they told him to plan his estate
He refused.

I know one (Steve Parke?) Said P thought a will would make you die, like health insurance would make you get sick.
Welcome to "the org", laytonian… come bathe with me.
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Reply #50 posted 02/05/24 2:05am

Vannormal

laytonian said:

rap said:

We never heard what happened about Ian Halperin's search for Prince's will (that could be in Canada).

That was a joke. He DID have a will in Canada because he was married to M2 at a time. Like the will during the M1 marriage, it was dissolved in the divorce. He didn't have a will. Sevwral employees during various periods of his life have talked about how they told him to plan his estate He refused. I know one (Steve Parke?) Said P thought a will would make you die, like health insurance would make you get sick.

I wouldn't be surprised if Jehova Witness or Larry had a hand in this.

Before anyone gets nuts, this is MY mere eveil speculation. razz

"The whole problem with the world is that fools and fanatics are always so certain of themselves. And wiser people so full of doubts" (Bertrand Russell 1872-1972)
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