One of the biggest names in North American pop music, singer Barry Manilow, of 81 years oldfiled a lawsuit in the United States court asking $1.5 million (From R$ 8.4 million at the current exchange rate) in presumably unpaid funds. The information is taken from the magazine Variety.
Barry Manilowowner of classics such as Ships, it could be magic AND Copacabana (At the Copa)has already sold more than 85 million records worldwide. In 2020 he sold his music catalog to the company Hipgnosis Song Fund and today he is working on it, together with Stiletto Entertainment alleged breach of contract, fraud, as well as fraudulent misrepresentation and negligent misrepresentation.
At the same time, the Hypgnosissecond Varietyelaborate Barry Manilow in similar terms to the end of August this year. In a statement to Financial timesa company representative said so “In discussions with Mr. Manilow’s representatives, it became clear that there was a difference in understanding certain provisions of the sales agreement relating to bonus payments.”
The singer’s legal representatives also emphasize his musical work Barry Manilow “has satisfied the conditions necessary to receive the two additional payments of the purchase price of $750,000 based on the income received” for the Hypgnosis in recent years after its acquisition, where values vary between $404,388 AND $550,383 during each of these years.
And he continues: “Through its agent Merck Mercuradis, Hipgnosis induced Plaintiffs to enter into the contract by promising that its catalog manager and various other employees and executives with purported music industry expertise would seek and obtain album reissues, special compilations and licensing agreements in commercials, motion pictures, television and other media and would undertake to do so, exploiting its purported expertise, experience and manpower through its great people.”
And they conclude: “Hipgnosis has promised to provide a full-time dedicated team of qualified industry professionals to focus on maximizing the value of purchased royalties.”
Barry Manilow Complains About Merck Mercuriadis Representation
Another aggravating action in the proceedings brought by Barry Manilow is that the representation of Merck Mercuriadisthen director of Hypgnosis I didn’t have “corporate authority” and that this has caused “The execution of activities stagnates and delays.”
“Plaintiffs and Defendant entered into the MCAA on or about March 20, 2020, ultimately having to backdate it because, in a sign of what was to come, Mercuradis did not have the corporate authority it represented, causing stagnation and delay in the execution of business… None of the promised marketing or promotion actions ever materialized. I never consulted Manilow or attempted to consult him. It was clear that Hipgnosis had made profoundly false promises under the contract.it is read in the text presented in Variety.
THE Hypgnosis It started its operations in 2018 and paid more than 2 billion dollars from important catalogues of important artists in the music industry such as Neil Young, Shakira AND Hot red peppers. After months of falling shares, the company was acquired by Lyra Bidco Limited.
Merck Mercuriadas he resigned in July this year.
Source: Terra
Earl Johnson is a music writer at Gossipify, known for his in-depth analysis and unique perspective on the industry. A graduate of USC with a degree in Music, he brings years of experience and passion to his writing. He covers the latest releases and trends, always on the lookout for the next big thing in music.
