New twist in the case of Johnny Hallyday's legacy

People

Bank of America has given up handling of the Johnny Hallyday holdings in California, in the middle of a dispute between the widow of the singer and his two eldest, a new hearing said Tuesday. on this procedural battle.

"Bank of America has resigned from its functions as trustee (manager of the trust, ed) on November 21, 2018," said the lawyer of the US bank at the opening of an interim hearing in Paris devoted to the application for David Hallyday and Laura Smet freeze royalties generated by their father's album sales.

No official reason has been put forward, but lawyers on both sides have explained the withdrawal of Bank of America by the existence of a legal battle in France involving this trust called JPS (for Jean-Philippe Smet).

For several months, Laura and David have contested the succession of their father, who died in December 2017, who left everything to his last wife Laeticia and their two daughters Jade and Joy. In April, they obtained legal freezing of the French properties of the singer and his copyrights.

Tuesday in Paris, they urgently requested the freeze of 75% of income from album sales, the last posthumously released, "My country is love", has pbaded more than one million copies in a few weeks and achieved the best start of an album in France.

Laeticia's lawyer, Ardavan Amir-Aslani, warned that it will take "months" to find a new trustee.

The JPS trust, established in California for the sole benefit of Laeticia Hallyday, is at the center of concerns expressed by the lawyers Laura Smet and David Hallyday, who fear that this legal structure is a "safe" which no badets can ever to be extracted.

It now includes part of the heritage of the singer. But Bank of America, in its capacity as trustee, made a request in July to be transferred other badets: Harley Davidson, luxury cars, but also the royalties due on the sale of albums by the houses Warner, Universal and Sony discs.

A hearing is scheduled to take place in California on January 22 to decide whether to transfer these badets to the trust, which is why Elders Hallyday made this request for a royalty freeze.

The decision was reserved on December 18.