While there have no public or confirmed estimates of his estate's value, some estimate his net worth as of his death to be as high as $95 million. Dana vehemently denies the charges.Ĭlearly, as the 18-month mark from Tom Petty's death approaches, his family's dispute is getting worse, not better. She and her sister allege that Dana, not them, has cost valuable business opportunities to be lost, usurping lucrative deals for herself. To support her position, Dana's latest court filings include pages of detailed text messages and other communications sent between Adria and Dana.Īdria and her legal team have not yet responded to Dana's most recent court papers, but her position is clear from the recent Complaint that seeks more than $5 million in damages against Dana and the other defendants. Records has already offered an advance of around one million dollars for the release, before serious negotiations have begun. This year marks the 25th anniversary of Petty's most successful solo album, Wildflowers. A "treasure trove" of Tom Petty recordings from original album sessions are to be released on a planned commemorative album, called Wildflowers - All The Rest, as part of a new box set.ĭana says that Warner Bros. Because of it, according to Dana's position, Adria is causing a new album with unreleased music to be delayed. Ultimately, Tom Petty fans will likely suffer from the dispute. Dana's attorney calls this new lawsuit to be frivolous and "destructive nonsense". They accuse Dana, Jenkins and the other defendants of stealing Tom Petty's intellectual property, usurping corporate opportunities, breach of fiduciary duty, unfair competition, and conspiring to interfere with prospective economic advantages. In fact, Dana points out that Adria was the one who proposed and even tried to hire Jenkins for this position, but that Adria later changed her mind when Jenkins did not agree to make all of the decisions that Adria wanted him to make.Īdria and Annakim's lawyers recently filed a lawsuit against Dana and several others, including Jenkins. This would mean that the daughters could outvote and override Dana's wishes whenever they want.ĭana instead proposes that the LLC should be managed by a professional manager, Larry Jenkins. ![]() According to Dana's court filings, Adria and Annakim believe "participate equally" means all three get to vote and the majority rules. ![]() The Trust language forms the heart of this dispute. The Trust further directed that Dana, Adria and Annakim "shall be entitled to participate equally in the management of the Artistic Property Entity." The daughters claim that the Trust contained a six-month time limit for the transfer, which passed long ago. While the Trust appointed Dana as the sole trustee - giving her control over managing the Trust assets after Tom Petty died - the Trust document required her to transfer the artistic properties into a new limited liability company, or LLC. They allege that their father's wishes, spelled out in the Thomas Early Petty Living Trust, could not be clearer. Adria and Annakim filed their own lawsuits against Dana.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |