Bank of America has given up the handling of Johnny Hallyday companies in California, in the midst of a dispute between the widow of the singer and his two elders, said a new hearing Tuesday. at this process match.
"Bank of America has resigned from its functions as administrator (CEO, ed.) On November 21, 2018," said the lawyer of the US bank at the opening of a preliminary hearing in Paris devoted to the application of David Hallyday and Laura Smet freeze royalties generated by their father's album sales.
No official reason has been put forward, but lawyers on both sides have explained the withdrawal of the Bank of America with the existence of a legal battle in France involving this trust, called JPS (for Jean-Philippe Smet).
For several months, Laura and David ordered the sequel to his father who died in December 2017, who left everything to his last wife Laeticia and their two daughters Jade and Joy. In April, they got legal freezing of the singer's French characteristics and his copyright.
Tuesday in Paris, they immediately asked to freeze 75% of revenues from album sales, the last posthumously published, "My Country is Love," has passed more than a million copies in a few weeks and achieved the best launch of an album in France.
Laeticias lawyer, Ardavan Amir-Aslani, warned that it would take "months" to find a new administrator.
The JPS Trust, established in California, in favor of Laeticia Hallyday, is at the heart of concerns expressed by lawyers Laura Smet and David Hallyday, fearing that this legal structure is a "safe" that no assets can ever be extracted
It now contains some of the songs of the singer. However, in July, Bank of America, as trustee, has requested transferring of other assets: Harley Davidson, luxury cars, but also royalties due to the sale of albums from the Warner, Universal and Sony records.
A hearing is scheduled to take place in California on January 22 to determine if these assets are to be transferred to trust, so Elders Hallyday has made this request for a royal prize.
The decision was made on December 18th.