and Jane Petty, who were seeking to recover half of any settlement proceeds and insurance payments -- reportedly valued at $150 million -- that UMG received due to the 2008 fire on the Universal Studios backlot in a confidential settlement, according to court papers. The artists were suing UMG for breach of contract, negligence, reckless conduct and misrepresentation, as well as other causes of action claiming that they suffered irreparable losses to their master recordings.
On April 6, U.S. District Judge John Kronstadt dismissed Jane Petty’s lawsuit, ruling she had failed to present enough evidence to the court. She responded by refiling an amended lawsuit against UMG suing them for breach of contract and breach of implied covenant of good faith and fair dealing. Kronstadt made his second determination to throw out Jane Petty’s case focusing only on the former couple's marital settlement agreement signed in 1998 and not the provisions in Tom Petty’s contract with MCA.
Kronstadt disagreed. The override agreement, he wrote in his ruling, “cannot be canceled, modified, amended or waived, in part or in full, in any manner except by an instrument in writing signed by the party to be charged or by the Family Law Court Judge." He also ruled the provision clearly demonstrated that Jane did not have the authority to sue over an alleged breach of Tom Petty’s MCA contract over his recordings and said that allowing Jane to file another complaint “would be futile.”Tom Petty's 5 Greatest Songs | Billboard News
Source: Entertainment Trends (entertainmenttrends.net)
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