NEW DEATH ROW OWNERS DENY UNLAWFUL PURCHASE

Last updated: Saturday, July 19, 2008

NEW DEATH ROW OWNERS DENY UNLAWFUL PURCHASE

LATEST: The new owners of rap mogul MARION 'SUGE' KNIGHT's Death Row Records have denied the company was purchased unlawfully.

Susan Berg's Global Music Group purchased the failing firm for $25 million (GBP12.5 million) at auction last month (Jun08) - seeing off competition from music industry heavyweights Warner Music Group to pick up the company Knight founded in 1991.

But venture capitalist Ron Goldberg - who had also prepared a bid for Death Row - has filed legal papers accusing Global Music Group president Anthony Marotta of conspiring with investors who were originally recruited by Goldberg and closing the deal without his knowledge.

However, lawyers acting on behalf of Global Music Group have denied the purchase of the company was mired in deceit.

Roger Muse, of law firm of Muse Methany, tells AllHipHop.com, "Mr. Goldberg is not a principal of Global Music Group Inc, a New York corporation, nor does he have any ownership in that company or in its assets, including the Death Row assets subject to the company's court-approved bid.

"Mr. Goldberg has apparently filed a Delaware corporation under the same name of my client; but of course anyone can file a corporation in any state under any name as long as the name is not then in use in that state by another corporation. Mr. Goldberg's claim that it is his Delaware Global Music Group was the 'true' bidder of the bankruptcy assets simply has no merit."

Source: WENN

| Saturday, July 19, 2008

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