The Associate Press reported:
Daryl Hall has sued his longtime music partner John Oates, arguing that his plan to sell off his share of a joint venture would violate the terms of their business agreement.
The move quickly prompted a judge to temporarily block the sale while legal proceedings and a previously initiated arbitration continue.
A Nashville chancery court judge issued the temporary restraining order on Nov. 16, writing that Oates and others involved in his trust can't move to close the sale of their share of Whole Oats Enterprises LLP to Primary Wave IP Investment Management LLC until an arbitrator in a separately filed case weighs in on the deal, or until the judge's order expires.
Primary Wave has four registered investment funds according to SEC filings. The initial fund had its first sale in June 2016. In September that same year Primary Wave announced a partnership with BlackRock.
Primary Wave, the leading U.S-based independent music publishing, marketing, talent management and television production company, announced today that it has finalized a new investing partnership with BlackRock Alternative Investors, (a unit of BlackRock, Inc.).
In October 2022 Primary Wave announced a new partnership. Variety reported:
Primary Wave Music, a top player in the music-catalog and publishing boom, has joined forces with Brookfield Asset Management in a $2 billion deal to invest in music copyrights, the companies confirmed.
Primary Wave can flip investments in its early funds to its newer ones.
Brookfield could also purchase the assets from any of Primary Wave’s existing three funds. Already, the new vehicle has bought over $700 million of music rights from Primary Wave’s first and second funds.
Arm's length deals? I can't go for that.
PEU deals. layer upon layer. are everywhere. Say it isn't so. I'm afraid it is.
