Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Hipgnosis Songs Fund to seek indemnity from Mercuriadis over legal claims


Hipgnosis Songs Fund to seek indemnity from Mercuriadis over legal claims

(Reuters) -Hipgnosis Songs said on Monday it is seeking protection from founder Merck Mercuriadis against a legal claim launched by a former business against the music royalties fund, its investment adviser and the industry veteran.

Hipgnosis Music Limited (HML), founded in 2015 and now being wound up, had served proceedings in November alleging “a diversion of business opportunity” to the London-listed fund and Hipgnosis Song Management (HSM), which Mercuriadis founded in 2017.

Hipgnosis’ board recently appointed solicitors to review the claim, it said in a statement.

It has previously said it was not insured against the cost of dealing with the claim.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

“As any liability of the company arises from Mr Mercuriadis’ conduct and knowledge, the company intends to seek to secure an indemnity from Mr Mercuriadis and Hipgnosis Songs Management against any liability that might be incurred by the company …,” Hipgnosis said in a statement.

Mercuriadis, who has managed bands including Guns N’ Roses and artists such as Elton John and Beyonce, stepped down as HSM’s CEO and will take on the newly-created role of chairman, the company said on Friday.

(Reporting by Eva Mathews in Bengaluru; Editing by Varun H K)

 

Recent Post: