Friday, December 16, 2005

All You Need Is Love

Beatles sue EMI in royalties row

The surviving Beatles and relatives of the band's late members have begun legal action against record company EMI to get royalties allegedly worth £30m.

Sir Paul McCartney, Ringo Starr and relations of George Harrison and John Lennon claim EMI owes record royalties to their company Apple Corps.

The band have issued legal proceedings in the High Court in London and the Supreme Court in New York.

EMI said it welcomed "full financial transparency" with its artists.

Settlement

The band allege EMI owes more than £30m in record royalties to Apple, which was allegedly uncovered during an audit of Apple accounts.

Legal proceedings were issued on Thursday in the High Court in London and the Supreme Court in New York.

Apple Corp chief Neil Aspinall said: "We have tried to reach a settlement through good faith negotiations and regret that our efforts have been in vain.

"Despite very clear provisions in our contracts, EMI persist in ignoring their obligations and duty to account fairly and with transparency.

"Apple and the Beatles are, once again, left with no choice but to sue EMI."

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