推 molemilk:不勝唏噓... 02/11 01:33
推 kidmen:真是不好的消息..........嘖嘖嘖 02/11 01:37
推 JuliusErving: King of New Jack Swing ... 竟然 ! 02/11 01:42
PRODUCER TEDDY RILEY REPORTEDLY BROKE
February 7, 2008 07:43 PST
*The Virginian-Pilot newspaper is reporting that famed producer Teddy Riley
has fallen on hard times and is selling his Virginia Beach recording studio
to help get himself out of debt.
According to the newspaper, the architect of New Jack Swing owes $1
million to several creditors and is hoping money from the sale of his Future
Records Recording Studio will satisfy the bill. But that's not likely to
happen.
The one-story building was considered state-of-the-art when Riley
purchased it for $3 million in 1991, but the equipment is now thought to be
out of date. The house was reportedly assessed at only $460,000.
During a court hearing on Friday (Feb. 1), lawyers representing two
different creditors to whom Riley reportedly owes money agreed to seek a
buyer for the studio. Both attorneys understand that the studio has dated
technology, but Richard J. Conrod, Sr., a lawyer for one of the creditors, is
hoping to sell the property as a working business instead of just real
estate.
"I'm trying to save this iconic studio for the cultural heritage it
represents," Conrod said. "It would be a shame for it to be mowed down or
become anything but a recording studio."
Riley has reportedly been in debt since at least 2002, when he filed
for Chapter 11 bankruptcy protection. He bounced back a year later, only to
have the IRS file a $1 million lien against him for unpaid income taxes in
2004. Two years later he was forced to sell his home in the posh Church
Point neighborhood of Virginia Beach for $1.5 million to pay off federal and
city taxes, as well as the home's remaining mortgage.
In 2007, the IRS filed another tax lien against him for $196,747 and
just this past month the state of Virginia filed a $93,684 income tax lien
against the musician.
--
※ 發信站: 批踢踢實業坊(ptt.cc)
◆ From: 219.91.65.134