MCD pursues Prince for €2.2m through US court
MCD PROMOTER Denis Desmond is pursuing Prince through the American courts to recover €2.2 million in damages which have not been paid.
Documents filed in the Central District of the Los Angeles Superior Court are seeking recognition of the High Court judgment given last year against Prince.
If judgment is granted, Mr Desmond will be able to target Prince’s assets, including his home, if he does not pay.
MCD is seeking interest payment of 8 per cent on the settlement, which would add another €176,000 to the total owed by Prince to the promoter, if he does make payment by March 26th.
Mr Desmond sued Prince when the temperamental superstar cancelled a concert in Croke Park scheduled for June 16th, 2008, just 13 days before it was due to take place.
A total of 55,000 tickets had been sold for the event. Prince never gave a reason for the cancellation and has never made a public comment about it.
The case went to the Commercial Courts in February last year and was settled after a four-day hearing. Prince agreed to pay €1.6 million in damages and a further €600,000 in legal costs to Mr Desmond.
However, Prince didn’t pay the money by the agreed date of March 10th last year. As a result, judgment was entered into against him followed by a European Enforcement Order Certificate, which allowed MCD to pursue Prince’s assets within the EU.
The documents, seen by The Irish Times, state that MCD has obtained preliminary attachment of approximately €692,000 held in Prince’s bank accounts in France and Portugal but have still not received any money.
Speaking after the judgment last year, Mr Desmond said Prince had been badly advised. “His own side says he is just not communicating. It is sad that an artist of the calibre of Prince has found himself in this position. He needs to surround himself with good advisers.”