Prince Lobel Obtains Arbitration Award for Firm Client – Rock Band’s Ex-Drummer Recovers Full Share of Advance Royalties

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Prince Lobel recently obtained a $387,500 arbitration award
against a nationally known rock band. In
the matter, the band’s former drummer sought to receive his share of the band’s
advance royalties for its final album under the terms of its recording contract
with Atlantic Records. The band terminated the drummer before it received
its $1.55 million advance royalty payment on the final album of its six record
recording contract with Atlantic, and then invoked a provision in the band’s
shareholder agreement prohibiting terminated band members from collecting
advance royalties. Litigation Practice Group Chair Bill Worth, representing the drummer, filed an
arbitration claim under the shareholder agreement and prevailed at arbitration
against the remaining band members, recovering the drummer’s full share of the
band’s advance royalties.