Report: Prince Estate To Be Handled By Londell McMillan, Charles Koppelman
June 17, 2016 at 11:27 AM (PT)
The entertainment assets of PRINCE's estate will be managed by a pair of men who have been involved in his career in the past, according to ASSOCIATED PRESS.
L. LONDELL McMILLAN, PRINCE's longtime attorney, manager and friend, and business executive CHARLES KOPPELMAN have been chosen to administer the late artist's estate by the court-approved special administrator.
BREMER TRUST NATIONAL ASSOCIATION confirmed it was retaining the pair, a decision first reported by THE SOURCE, a music magazine owned by McMILLAN.
THE NORTHSTAR ENTERPRISES WORLDWIDE Chairman/CEO McMILLAN worked with PRINCE for more than a decade, helping the star get out of his contract with WARNER BROS.
CAK ENTERTAINMENT Chairman KOPPELMAN, a music business veteran at SBK and EMI, signed PRINCE to EMI for his "Emancipation" triple album.
Last week, a MINNESOTA judge authorized the trust company to hire industry experts to help manage and monetize the deceased superstar's musical legacy while the court tries to decide who's entitled to inherit his estate in the absence of a will..
The judge wrote that he intends BREMER TRUST "to take all prudent steps" to generate income from PRINCE's intellectual property, so that it can raise funds for administering the estate and for paying what's expected to be a hefty tax bill due in JANUARY.