The outcome could be tragic for R&B maven Prince for failing to pay $3 million for pulling out of a concert in Dublin, Ireland at the last minute.
The icon canceled a sold-out performance at Croke Park only 13 days before it was scheduled to take place back in June 2008. The artist failed to give an explanation for the sudden change of plans which left promoters MCD with the burden of refunding 55,000 tickets to disappointed fans.
Denis Desmond, the company’s owner sought legal action against the singer and the case was presented to Dublin’s Commercial Courts in February 2010. After a four day hearing, Prince’s legal team settled by agreeing to pay $2 million in damages and an extra million in legal costs.
Unfortunately, the bill was not paid by the March 2010 deadline, leaving Desmond to take further action. MCD was granted an European Enforcement Order Certificate which under EU law allows them to pursue the musician’s assets.
Desmond and MCD’s chase has now led them to America. The company has gone as far as to file papers with the Los Angeles Superior Court to attain Prince’s assets to cover the initial settlement plus an eight percent interest rate on the original amount. If successful this could add $240,000 to the overall sum.
If the courts rule in favor of MCD, they would have the authority to seize the legend’s family home in Minneapolis in addition to his personal wealth.
