[ad_1]
People and royalty
" Bank of America has resigned as trustee (manager of the trust, ed) on November 21, 2018 ", said the US bank lawyer at the opening of an interim hearing in Paris devoted to the request of David Hallyday and Laura Smet to freeze the royalties generated by their father's album sales.
According to a Paris Match France article by the editor
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 as trustee (manager of the trust, ed) on November 21, 2018 ", said the US bank lawyer at the opening of an interim hearing in Paris devoted to the request of David Hallyday and Laura Smet to freeze the 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).
The decision was reserved on December 18
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 of which was released posthumously, My country is love, has sold over a million copies in a few weeks and has achieved the best start of an album in France.
Read also> Laura and David can claim moral rights to Johnny Hallyday recordings
Laeticia's lawyer, Mr. Ardavan Amir-Aslani, warned that " 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 lawyers Laura Smet and David Hallyday, who fear that this legal structure is a " safe Which no badets can ever be extracted. It now includes part of the heritage of the singer.
Read also> Johnny Hallyday: The end of the sacred union
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.
Source link
