Scott Storch – Music Company Denies Conspiring w/ Suge Knight
theJasmineBRAND.com exclusively reports, Scott Storch was not threatened into signing away his music royalties by Suge Knight and a music company — so says the music company in response to the lawsuit filed by the producer’s bankruptcy trustee. They are demanding the suit be tossed out of court.
Here’s the latest: On July 6th, Music Royalty Consulting responded to the allegations that they conspired with Suge knight to force Storch to sign away his royalty rights. The company denies all allegations of wrongdoing or that they participated in any fraudulent activity.
They argue they purchased the royalties for reasonably fair market value and the deal was made in good faith. MRCI says the trustee can’t sue them because they own the royalties not Storch.
They are demanding the entire suit be thrown out and their legal fees be paid.
Here’s the backstory: Back in 2015, Storch – who was once worth an estimated $70 million dollars for his work in producing music for Beyonce, Justin Timberlake
& many mote – filed for Chapter 7 bankruptcy having less than $4k in assets to his name.
His assets totaled $3,600 but his liabilities came out to $4,393,679. The breakdown of his assets included $100 cash, $500 in clothing, a watch worth 3k, several music companies valued at $0 but no other property. The bankruptcy has been pending for over a year.
On June 1st, the trustee sued Music Royalty Consulting (MRCI) in Storch’s bankruptcy. The complaint accused the company of committing calculated and potentially criminal collaboration with ex-Death Row head Suge Knight to threaten, intimidate and coerce Storch into conveying his rights to songwriting royalties to MRCI for pennies on the dollar.
He said Suge literally dragged the producer to the office while he was under the influence of drugs, unrepresented and in fear of his personal safety due to Suge’s threats and intimidation.
The trustee claimed MRCI is a sophisticated player in the music royalty business and took advantage of Storch and his drug addiction – along with other desperate artists – and seized on the opportunity to deceive him into signing away his future royalty rights.
Back in 2012, Suge allegedly showed up to Storch’s L.A. home and immediately began threatening him. The producer – who was intoxicated and high on cocaine along with being sleep deprived — was struggling with drug addiction. Suge forced him into going to MRCI’s office, where he signed the paperwork they presented and was paid $5,000.
He said the deal screwed him out of millions, with both Suge and MRCI collecting his royalties on a deal that was signed under duress due to him fearing for his life.
The trustee demanded the contract Storch signed be void and he be awarded the rights to his songwriting royalties.