Britney Spears "has no estate" so what is the deal with Britney Brands?

[Steel Magnolia]

2 minutes ago, Ghoulia said:

AGHH! I'm sorry!!

"On your behalf."

James Parnell is signing the contract.

Larry therefore represents James Parnell...At least until the contract is re-negotiated by Johnny Wright.

[Ghoulia]

3 minutes ago, Steel Magnolia said:

I'm still seeing "spacer.png" but...

Looking at the original document...

$35,000 up front for Larry's services...The contract doesn't specify if Larry works for Britney or for Zomba.

And the advances?

I'm assuming those are deposited into a bank account that James Parnell is in control of up until the SJB Revocable Trust is created in July of 2004?

And perhaps beyond, depending on where the bank account is located?

This is what initially drew my attention (please tell me if the image doesn't work).

Before the Zomba contract pages, pg 4 of the document - "Respectfully submitted by Cynthia Voorhies. Attorney for Jamie Spears, Petitioner and Administrator of Estate of Britney Spears, Minor -and- Laurence Rudolph, Counsel Pro Hac Vice for Petitioner and Administrator, Jamie Spears."

[Steel Magnolia]

The amendment to the Zomba contract occurred prior to Britney reaching the age of majority.

Did James Parnell sign that as well?

...

Apr. 14, 2000 - Johnny Wright negotiates an amendment to Britney's recording agreement with Zomba, providing for additional advances and increased royalties.

Source: Source: Complaint, Wright Entertainment Group, LCC and Wright Entertainment Group, Inc. vs. Britney Spears and Britney Touring, Inc., In The Circuit Court Of The Ninth Judicial Circuit In And For Orange County Florida, October 27, 2007, Page 6. (Case No. 48-2007-CA-014233-O Div. 32)

Sept. 19, 2000 - Upon reaching the age of majority, Britney Spears ratifies an amendment to her Personal Management Agreement with Johnny Wright. The contract is for one year, with annual renewals.

Source: Complaint, Wright Entertainment Group, LCC and Wright Entertainment Group, Inc. vs. Britney Spears and Britney Touring, Inc., In The Circuit Court Of The Ninth Judicial Circuit In And For Orange County Florida, October 27, 2007, Page 3 and Exhibit B. (Case No. 48-2007-CA-014233-O Div. 32)

[Steel Magnolia]

1 minute ago, Ghoulia said:

This is what initially drew my attention (please tell me if the image doesn't work).

Before the Zomba contract pages, pg 4 of the document - "Respectfully submitted by Cynthia Voorhies. Attorney for Jamie Spears, Petitioner and Administrator of Estate of Britney Spears, Minor -and- Laurence Rudolph, Counsel Pro Hac Vice for Petitioner and Administrator, Jamie Spears."

"Estate of Britney Spears"

Oooh...

They had to create another "estate" in 2008 to put themselves back in control.

[Ghoulia]

1 minute ago, Steel Magnolia said:

"On your behalf."

James Parnell is signing the contract.

Larry therefore represents James Parnell...At least until the contract is re-negotiated by Johnny Wright.

Yes. James gets his first chance to play the role of pop star Britney.

 

1 minute ago, Steel Magnolia said:

The amendment to the Zomba contract occurred prior to Britney reaching the age of majority.

Did James Parnell sign this as well?

...

Apr. 14, 2000 - Johnny Wright negotiates an amendment to Britney's recording agreement with Zomba, providing for additional advances and increased royalties.

Source: Source: Complaint, Wright Entertainment Group, LCC and Wright Entertainment Group, Inc. vs. Britney Spears and Britney Touring, Inc., In The Circuit Court Of The Ninth Judicial Circuit In And For Orange County Florida, October 27, 2007, Page 6. (Case No. 48-2007-CA-014233-O Div. 32)

Sept. 19, 2000 - Upon reaching the age of majority, Britney Spears ratifies an amendment to her Personal Management Agreement with Johnny Wright. The contract is for one year, with annual renewals.

Source: Complaint, Wright Entertainment Group, LCC and Wright Entertainment Group, Inc. vs. Britney Spears and Britney Touring, Inc., In The Circuit Court Of The Ninth Judicial Circuit In And For Orange County Florida, October 27, 2007, Page 3 and Exhibit B. (Case No. 48-2007-CA-014233-O Div. 32)

This Louisiana doc was filed October 10, 1997.  Right after Jamie's 1993 Ford Probe appraised at $3000 was repo'd and sold at auction.  

[Ghoulia]

2 minutes ago, Steel Magnolia said:

"Estate of Britney Spears"

Oooh...

They had to create another "estate" in 2008 to put themselves back in control.

RIGHT??!! 

Did Zomba truly require this?

Or did Larry suggest it?

[Ghoulia]

Was Jamie so broke that Memaw Ruth paid the $125 for Larry & Cynthia to file this petition? She knew he would pay her back once the advance check cleared?

[Steel Magnolia]

3 minutes ago, Ghoulia said:

This Louisiana doc was filed October 10, 1997.  Right after Jamie's 1993 Ford Probe appraised at $3000 was repo'd and sold at auction.  

Is the amendment in the WEG docs as well?

I can't recall.

But it looks like we can assume that Larry represented James Parnell until at least December 2, 1999.

...

Dec. 2, 1999 - Britney Spears turns 18, which is the age of majority in her home state of Louisiana and in the states of Florida, New York, and California.

[Ghoulia]

@RebellionSparkles did upload the second half of this contract. 

Britney Spears - contract - 19970915 - Zomba contract original - Larry Jamie sell B rights.pdf - Google Drive

DRIVE.GOOGLE.COM

Signed by Britney in September of 1997.  

[Ghoulia]

page 139 - Larry made it seem like she would regain control after she turned 18.  

[Steel Magnolia]

Oooh...

Now this is starting to make more sense...

Was the bank account in Florida so that James Parnell had control of it until Britney turned 25?

But Britney Touring, Inc. was only registered in the states of Louisiana and, only recently at that point, the state of New York?

...

Dec. 30, 2003 - The Florida Department of State writes to Stacy Smith & Associates of Norfolk, VA: "We have received your document for BRITNEY TOURING, INC. and your check(s) totaling $70.00. However, the document has not been filed and is being retained in this office for the following...this office collects a civil penalty of $1000 for each year this entity transacted business or conducted its affairs in Florida prior to qualification and the appropriate annual report/uniform business report fees that would have been due this office had the entity qualified the year it began operations in this state. The amount due this office to cover both annual report/uniform business report and penalty fees is $3,450."

[Steel Magnolia]

Note that shortly after the Florida branch of Britney Touring is registered...

A third branch is registered by Larry in New York.

I would suggest that we're now starting to look at the time period where James Parnell was about to be "caught" doing whatever he was doing. (If he was doing it at all.)

...

June 24, 2003 - A branch of Britney Touring, Inc. is incorporated as a "foreign business corporation" in the state of New York by Rudolph & Beer, LLP, Attn: Park Avenue South, 432 Park Avenue South 2nd Fl., New York, NY, 10016. (Company No. 2923015)

June 25, 2003 - A branch of Britney Brands, Inc. is incorporated as a "foreign business corporation" in the state of New York. (Company No. 2923656)

July 22, 2003 - Britney Spears signs a Personal Management Agreement with the newly formed ReignDeer Entertainment as Larry Rudolph splits with his law firm of Rudolph & Beer, LLP.

Feb. 2, 2004 - Consistent with industry custom and practices, Britney Spears and Britney Touring, Inc. pay $1.3-million in premiums for contingency insurance to cover her upcoming world tour. The insurance is to cover abandonment, postponement, or cancellation of shows during the tour,  in the average amount of $380,000 per show, for 82 scheduled shows. The policies cover a period from February 3, 2004 until August 10, 2004, with a deductible of $760,000 and a total indemnity limit of $26,772,000. [NOTE: The New York branch!]

[Ghoulia]

Is Britney Touring the first Louisiana incorporation related to Britney's career? 

[Steel Magnolia]

Why is Stacy Smith formally registering Britney Touring in Florida when Larry had just purchased tour insurance for the Onyx tour through the New York branch?

Question...

Is the UMTA account in Florida?

Does James Parnell control this bank account?

...

Feb. 2, 2004 - Consistent with industry custom and practices, Britney Spears and Britney Touring, Inc. pay $1.3-million in premiums for contingency insurance to cover her upcoming world tour. The insurance is to cover abandonment, postponement, or cancellation of shows during the tour,  in the average amount of $380,000 per show, for 82 scheduled shows. The policies cover a period from February 3, 2004 until August 10, 2004, with a deductible of $760,000 and a total indemnity limit of $26,772,000.

Source: Complaint, Britney Touring, Inc. And Britney Spears, Plaintiffs, Vs. Liberty Syndicate Management Limited, QBE International Insurance Limited, AXA Corporate Solutions, Markel International Limited, Beazley Furlonge Ltd., Talbot Underwriting Limited, Great Lakes Reinsurance UK (PLC), and SR International Business Insurance Company, Ltd., Defendants, Supreme Court Of The State Of New York, County Of New York, February 2, 2005, Pages 1-5. (Index No.: 05-600450)

Feb. 26, 2004 - A branch of Britney Touring, Inc. is incorporated as a "foreign profit corporation" in Florida by Stacy Smith & Associates, 1503 Colley Ave., Norfolk, VA, 23517. The certificate is issued by the Florida Secretary of State after a penalty of $3,450.00 is paid to compensate for transacting business in the state for over three years without incorporating. (Company No. F04000001093)

Source: Britney Touring, Inc., Application By Foreign Corporation To Transact Business in Florida, Florida Department of State, February 26, 2004.

Dec. 2, 2006 - Britney turns 25, which is the Uniform Transfers to Minors Act (UMTA) age of majority in the state of Florida if the transferer/parent chooses. Otherwise, the age of majority in Florida is 21-years old.

Source: https://www.policygenius.com/estate-planning/age-of-majority-by-state/

[Steel Magnolia]

1 minute ago, Ghoulia said:

Is Britney Touring the first Louisiana incorporation related to Britney's career? 

Yes.

...

Oct. 15, 1998 - Britney Spears registers Britney Touring, Inc. in the state of Louisiana through business manager Stacy Smith of Stacy Smith & Associates, 1503 Colley Avenue, Norfolk, VA, 23517, using the Corporation Service Company, 1201 Hays Street, Tallahassee, Florida, 32301-2525. (Company No. 34698963D)

Mar. 18, 1999 - Britney Spears registers Britney Brands, Inc. in the state of Louisiana.

[Steel Magnolia]

Knowing that Bryan was trotted out by Team Lynne, and supported by LFB, the content of this interview is very telling, in retrospect:

Jan. 2003 - Some time during this year, Bryan Spears begins overseeing Britney's finances. "It was 2003 that I took over, until 2009," he claims in an interview from July 23, 2020. "We didn't have anyone that was overseeing the actual financial business development, next step kind of thing for Brit. We had managers, we had business managers, we had agents. Everything. But no one was looking at what the left hand was doing and looking at what the right hand was doing. There was no top cop, basically, who was looking out for her best interests. So we, as a family, as we always do, vote and come up with a family decision. We all thought that it would be a good idea for me to oversee all of it...Making sure money is being put away, new business is being formed, brands are being formed, trying to make money while we sleep so we're not so focused on having to tour." Bryan continues, "Looking at a situation...if I feel like I don't have a really good handle on it, or if I feel like I don't have the expertise to conquer it, I go and hire or find the person or company that can. So, I went and hired Ernst & Young out of Nashville, brought them in and did an entire audit of every single detail of her business from publishing to branding to merchandising...we had a huge doll line. Tour merch, and all of that. And I had those guys give me a report that showed me, and we all broke it down. And then I went back, assessed it, and then I wound up having to make a lot of adjustments after that." Interviewer: "So how did you feel when you got that report?" Bryan: "I was not very well liked, you could put it that way, amongst the team." Interviewer: "Did you give a rat's ***? I mean, if they're stealing from your sister?" Bryan: "Looking back on it, I did what was right." Interviewer: "What did you do? Did you clean house?" Bryan: "Ya. Everyone but the manager."

Source: https://www.youtube.com/watch?v=kS9Gyo7JdO8

[Steel Magnolia]

9 minutes ago, Steel Magnolia said:

"So how did you feel when you got that report?" Bryan: "I was not very well liked, you could put it that way, amongst the team." Interviewer: "Did you give a rat's ***? I mean, if they're stealing from your sister?" Bryan: "Looking back on it, I did what was right." Interviewer: "What did you do? Did you clean house?" Bryan: "Ya. Everyone but the manager."

In this interview, Bryan allowed the host to imply that Reg Covington was stealing Britney's fortune.

However...

I would suggest that it was not Uncle Reggie, or business manager Bert Padell, or manager Johnny Wright, who was stealing Britney's fortune.

I would suggest that it was James Parnell, assisted by his lawyer, Larry Rudolph, who was stealing Britney's fortune.

[Ghoulia]

11 minutes ago, Steel Magnolia said:

Knowing that Bryan was trotted out by Team Lynne, and supported by LFB, the content of this interview is very telling, in retrospect:

Jan. 2003 - Some time during this year, Bryan Spears begins overseeing Britney's finances. "It was 2003 that I took over, until 2009," he claims in an interview from July 23, 2020. "We didn't have anyone that was overseeing the actual financial business development, next step kind of thing for Brit. We had managers, we had business managers, we had agents. Everything. But no one was looking at what the left hand was doing and looking at what the right hand was doing. There was no top cop, basically, who was looking out for her best interests. So we, as a family, as we always do, vote and come up with a family decision. We all thought that it would be a good idea for me to oversee all of it...Making sure money is being put away, new business is being formed, brands are being formed, trying to make money while we sleep so we're not so focused on having to tour." Bryan continues, "Looking at a situation...if I feel like I don't have a really good handle on it, or if I feel like I don't have the expertise to conquer it, I go and hire or find the person or company that can. So, I went and hired Ernst & Young out of Nashville, brought them in and did an entire audit of every single detail of her business from publishing to branding to merchandising...we had a huge doll line. Tour merch, and all of that. And I had those guys give me a report that showed me, and we all broke it down. And then I went back, assessed it, and then I wound up having to make a lot of adjustments after that." Interviewer: "So how did you feel when you got that report?" Bryan: "I was not very well liked, you could put it that way, amongst the team." Interviewer: "Did you give a rat's ***? I mean, if they're stealing from your sister?" Bryan: "Looking back on it, I did what was right." Interviewer: "What did you do? Did you clean house?" Bryan: "Ya. Everyone but the manager."

Source: https://www.youtube.com/watch?v=kS9Gyo7JdO8

So if the manager is Larry, can we infer that Bryan s.hitcanned the Larry underlings? Is that why Stacy Smith was scrambling to incorporate Britney Touring in Florida?

[Steel Magnolia]

1 minute ago, Ghoulia said:

So if the manager is Larry, can we infer that Bryan s.hitcanned the Larry underlings? Is that why Stacy Smith was scrambling to incorporate Britney Touring in Florida?

I'm thinking Stacy was asked by Larry to incorporate Britney Touring in Florida to justify why the proceeds of Britney Touring (up until then incorporated only in Louisiana) were going into a bank account in Florida.

A bank account that James Parnell had access to.

There's a key date that we keep forgetting about, which may have influenced the "family" decision to insert Bryan into the mix in 2003.

...

May 23, 2002 - Gossip blogs report that Britney's parents, James and Lynne Spears, have separated and that Lynne is asking for a divorce.

[mocha latto]

1 hour ago, Ghoulia said:

page 139 - Larry made it seem like she would regain control after she turned 18.  

Britnay Spears? I dont think that is her legal name. Anyone is welcome to correct me if I'm wrong.

But if her name was misspelled on a contract cant that create serious legal issues?