Elton Denied Appeal In Accounting Litigation
A British judge rejected Elton John's bid to appeal a failed negligence lawsuit against his former accountants. Judge Andrew Ferris at London's High Court said today (June 6) that he was not satisfiedA British judge rejected Elton John's bid to appeal a failed negligence lawsuit against his former accountants. Judge Andrew Ferris at London's High Court said today (June 6) that he was not satisfied an appeal "would have any real prospect of success."
In April, the High Court ruled against John's claim that his accountants and management team had been negligent in handling his business affairs. The musician accused accountants PricewaterhouseCoopers and Andrew Haydon -- former managing director of John Reid Enterprises, John's longtime management company -- of burdening him with millions of dollars in touring expenses.
Lawyers for PricewaterhouseCoopers and Reid depicted John as a free spender with a poor grasp of his personal finances. During the court hearing, the 54-year-old performer admitted he enjoyed a "somewhat lavish lifestyle" and had spent $42 million on personal expenses -- including $410,000 on flowers -- over a 20-month period.
Today's decision applied only to John's suit against PricewaterhouseCoopers, not to Haydon or John Reid Enterprises. John can still seek permission to petition the Court of Appeal.
Of course, it's not like John is lacking cash. With the help of Christie's auction house in London yesterday, he netted $2.75 million for the sale of 20 vehicles. His 1993 Jaguar XJ220, with a top speed of 213 mph and only 852 miles on its odometer, sold for $331,000. The sale also included three Ferraris, four Aston Martins, and nine Bentleys.
Christie's said John sold the cars because he never got a chance to use them. But he wasn't going to be without wheels. Carey Wallace, the auctioneer's rock and pop specialist, said John was holding on to eight cars.
John will kick off a brief international tour with a July 7 performance at Beiteddine Festival in Beirut. The run will take him to France, Germany, Turkey, Russia, Latvia, and Estonia before it wraps July 24 in Stockholm.
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