Barry Manilow Sues Hipgnosis, Seeking $1.5 Million in Allegedly Unpaid Funds
variety.comJem Aswad Executive Editor, Music In the latest move in an ongoing dispute, singer-songwriter Barry Manilow, who sold a catalog of his music to Hipgnosis Songs Fund in 2020, and Nevada-based Stiletto Entertainment have filed a lawsuit seeking $1.5 million in unpaid bonus funds in U.S.
District Court in California. The lawsuit, obtained by Variety, claims that the bonuses were due as part of the acquisition on Manilow’s catalog in 2020; it also alleges breach of contract, fraud and fraudulent misrepresentation, and negligent misrepresentation.
Hipgnosis had sued Manilow under similar terms late last month, also alleging breach of contract. In a statement to Financial Times, a rep for the company said “in discussion with Mr.
Manilow’s representatives it became clear that there was a difference in understanding of certain clauses in the sale agreement regarding bonus payments.” The lawsuit — which, in a comic note, identifies the plaintiff as “Barry Manilow writes the songs that make the whole world sing” — details an initial purchase price payment of $7,500,000 for the catalog, with “an additional purchase price payment of $750,000.00 if the cash income received by Hipgnosis from Hipgnosis’ Share of the Assets [i.e., income based on the Subject Masters] increased by at least ten (10%) percent year-on-year compounding for each of Years 1 through 3 from purchase,” and “an additional purchase price payment of $750,000.00 if the cash income received by Hipgnosis from Hipgnosis’ Share of the Assets increased by at least ten (10%) percent year-on-year compounding for each of Years 1 through 4 from purchase.” It claims Manilow’s songs “satisfied the necessary conditions to receive the two additional $750,000 purchase price.
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