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

[Steel Magnolia]

People who were involved with the Britney Spears Foundation:

• Reginald Covington
• Bert Padell
• Larry Rudolph
• Bryan Spears
• Lynne Spears
• James Parnell Spears

People who were not involved with the Foundation:

• Johnny Wright

[Ghoulia]

I wonder if X17 conflated two different issues - Streisand's mention of an IRS audit and a $25,000 retainer to Holland & Knight?

 

 

20080310 Ex parte.pdf - Google Drive

DRIVE.GOOGLE.COM

 

[Ghoulia]

On 8/20/2022 at 2:17 PM, Ghoulia said:

I wonder if X17 conflated two different issues - Streisand's mention of an IRS audit and a $25,000 retainer to Holland & Knight?

 

 

20080310 Ex parte.pdf - Google Drive

DRIVE.GOOGLE.COM

 

One mystery solved - here's attorney Jorge Hernandez-Torano. This is one of the WEG lawsuit docs.  This doesn't help explain the 17 million IRS Jive audit, but at least we know why this particular attorney's name was mentioned in connection to a Florida problem.

From this doc - 

Britney Spears - court document - 20081215 - 482007CA14233o - EXHIBITS IN SUPPORT OF NOTICE OF FILING answers to first interogatory.pdf - Google Drive

DRIVE.GOOGLE.COM

 

Edited November 15, 2023 by Ghoulia

[Ghoulia]

2 hours ago, Steel Magnolia said:

Great find!

I don't remember ever reading those two X17 articles!

"...a new Miami lawyer..."

The Jive contracts were not signed in Florida.

So why the need for a Miami lawyer?!

EDIT:

Maybe it was?

Do we have a copy of the amendment?

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

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)

The WEG management contract amendment? Pg 15-onwards.

1029_brit_complaint_wm.pdf - Google Drive

DRIVE.GOOGLE.COM

 

[Steel Magnolia]

3 minutes ago, Ghoulia said:

The WEG management contract amendment? Pg 15-onwards.

1029_brit_complaint_wm.pdf - Google Drive

DRIVE.GOOGLE.COM

 

I think what we're looking for is the contract between Britney and Zomba that Johnny re-negotiated.

I haven't been able to find it in the WEG docs yet.

"WEG negotiated amendments to SPEARS' recording agreement with Zomba, providing for additional advances and increased royalties, including the April 14, 2000 amendment for albums 4 through 8 (LPs 4, 8), which included "In the Zone" released in 2003, and "Greatest Hits - My Prerogative" released on November 9, 2004."

But, it looks like you're right...X17 got it wrong, so we no longer need to find it.

However...

I'm wondering if Johnny's questions were what provoked the $17-million audit with Jive?

Presumably, Johnny had been looking for answers to this mystery for some time before he finally went ahead and launched a lawsuit.

 

[Steel Magnolia]

2 minutes ago, Steel Magnolia said:

"WEG negotiated amendments to SPEARS' recording agreement with Zomba, providing for additional advances and increased royalties, including the April 14, 2000 amendment for albums 4 through 8 (LPs 4, 8), which included "In the Zone" released in 2003, and "Greatest Hits - My Prerogative" released on November 9, 2004."

Do these amendments to B's record contract amount to...

$17-million?

I wonder if Jive forwarded the advances, but because Bert Padell had been fired and two new LLC's had been created, the $17-million was never acknowledged by B's new team?

Also...

Was the April 14, 2000 amendment by any chance a "360 contract" that covered things like merch, doll lines, and perfumes?

...

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)

[Ghoulia]

8 minutes ago, Steel Magnolia said:

I think what we're looking for is the contract between Britney and Zomba that Johnny re-negotiated.

I haven't been able to find it in the WEG docs yet.

"WEG negotiated amendments to SPEARS' recording agreement with Zomba, providing for additional advances and increased royalties, including the April 14, 2000 amendment for albums 4 through 8 (LPs 4, 8), which included "In the Zone" released in 2003, and "Greatest Hits - My Prerogative" released on November 9, 2004."

But, it looks like you're right...X17 got it wrong, so we no longer need to find it.

However...

I'm wondering if Johnny's questions were what provoked the $17-million audit with Jive?

Presumably, Johnny had been looking for answers to this mystery for some time before he finally went ahead and launched a lawsuit.

 

The Daily Star claims it was Jamie & Lynne who solicited an IRS audit.

Riddle of Britney’s missing cash - Daily Star

WWW.DAILYSTAR.CO.UK

---

BRITNEY Spears has “lost” an astonishing $60million in 12 months of wild spending.

 

Last night a source close to her dad Jamie, who has been granted legal control over her assets, said Britney’s parents are so alarmed they have asked the IRS, the US equivalent of the Inland Revenue, to investigate her finances.

The singer’s tax returns for last year show she paid the government $7.2million. 

[Steel Magnolia]

4 minutes ago, Ghoulia said:

The Daily Star claims it was Jamie & Lynne who solicited an IRS audit.

 

Riddle of Britney’s missing cash - Daily Star

WWW.DAILYSTAR.CO.UK

---

BRITNEY Spears has “lost” an astonishing $60million in 12 months of wild spending.

 

Last night a source close to her dad Jamie, who has been granted legal control over her assets, said Britney’s parents are so alarmed they have asked the IRS, the US equivalent of the Inland Revenue, to investigate her finances.

The singer’s tax returns for last year show she paid the government $7.2million. 

The UK papers seem to be a favorite method of planting stories for Team CON.

https://www.dailymail.co.uk/tvshowbiz/article-1031529/Britney-takes-ex-boyfriend-Adnan-amid-fears-s**-tape-released.html

https://www.dailymail.co.uk/news/article-11087695/Britney-Spearss-ex-husband-Kevin-Federline-says-sons-decided-not-MONTHS.html

 

[Ghoulia]

2 hours ago, Steel Magnolia said:

The UK papers seem to be a favorite method of planting stories for Team CON.

https://www.dailymail.co.uk/tvshowbiz/article-1031529/Britney-takes-ex-boyfriend-Adnan-amid-fears-s**-tape-released.html

https://www.dailymail.co.uk/news/article-11087695/Britney-Spearss-ex-husband-Kevin-Federline-says-sons-decided-not-MONTHS.html

 

UK tabloids pay more for gossip and are (were?) willing to run with more salacious details!

UK versus US – Comparisons of Media Standards – Inforrm's Blog

INFORRM.ORG

---

While the campaign groups Index On Censorship Pen, Sense about Science, continue their campaign to Americanise UK media law, it is interesting to compare media standards and conduct in both countri…

 

[Steel Magnolia]

I'm hashtagging this thread so we can find it later.

#ResearchThread #BritneySuperSleuths

[easy]

i saw this tweet last night and it reminded me of this thread. it's not about britney brands, but the baby one more mark llc. seems like rosengart has been working on transferring that back to britney, britney brands might be next/in the works as well. 

 

[DontNeedAReasonWhy]

She does tho it’s called the IM A WOMAN BRITNEY SPEARS BXCH! Kiss my azz.

 

so change this lol

[Monalisa666]

On 8/16/2022 at 7:03 PM, mocha latto said:

https://www.cbsnews.com/news/britney-inc-court-papers-detail-drama-of-doing-business-with-britney-spears/

Did you read this article? The way they speak about Britney is disgusting! It also shows I st how bad a business man Jamie was.

[mocha latto]

On 10/5/2022 at 3:37 AM, Monalisa666 said:

Did you read this article? The way they speak about Britney is disgusting! It also shows I st how bad a business man Jamie was.

Completely agree! She was being scapegoated for issues she didn't create.

[Kpenz]

On 8/16/2022 at 7:08 PM, Applejack said:

It's not. It's owned by Britney.

The estate ceased existing because Britney is legally a person again and she owns her ****, therefore there's no one owning her stuff on her behalf. So that's why there's no more estate - because she owns her stuff again.

Incorrect information as well. Britney to this very date still has a conservator of estate and persons. And her Britney Brand Inc is owned by Michael Kane who was appointed by Jamie and Britney herself spoke out against, how she hated it and it was just a way for Jamie to control still without taking the heat. This is now 3 years later, if you think Britney is truly free and that they didn’t just smoke show us all to get us to back off - you’re blind.

[Hamelia]

On 8/16/2022 at 6:56 PM, mocha latto said:

I read this and feel slightly more confused. How does she have no estate?? This is Britney Spears. What happened to all these random trusts and companies? Im so livid

The word estate is only used for the money and possessions of dead people or of people in conservatorships. Since she is alive and free, there is no estate anymore. It's her fortune, her money, her possessions. The businesses established with her earnings do not belong to her father. 

A trust has nothing to do with an estate. A trust can be established for children, other relatives or anybody including yourself. The conditions are specified when the trust is formed. Britney's boys are so-called 'trust fund babies' because she established a trust for them (before she was in the conservatorship).  We don't know the specifics of this trust fund. She might have said to pay out in monthly stipends or in a lump sum at age 30 or whatever other conditions. We do not know.

[Perfect nordin]

Man britney is the strongest woman alive😔 Her heart endured so so much over the years

Edited November 15, 2023 by Perfect nordin

[IamMax]

12 hours ago, Kpenz said:

Incorrect information as well. Britney to this very date still has a conservator of estate and persons. And her Britney Brand Inc is owned by Michael Kane who was appointed by Jamie and Britney herself spoke out against, how she hated it and it was just a way for Jamie to control still without taking the heat. This is now 3 years later, if you think Britney is truly free and that they didn’t just smoke show us all to get us to back off - you’re blind.

Here we go again. You're sick. 

[PrincessAkwa]

On 8/17/2022 at 1:30 AM, 3IsACharm33 said:

 

No no No. this is not to bash you but so many of you seem to not be caught up on how Britney brand works and was created. None of the money Britney Brands earned was considered apart of Britney’s estate.  That’s why her estate was always stuck at 60 million and still is because all of the money from Vegas, the perfumes, etc went straight to Jamie. Britney brands was not accounted for in the conservatorship at all, it’s not in any of the accounting. So legally she’s not even entitled to it unless it’s been reversed automatically by the court and or either rosengart will have to fight that Britney becomes the owner of her brand

Any news regarding this?

[Agyness]

wtf