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Loeb & Loeb is pleased to announce that the Tennessee Court of Appeals has affirmed a circuit court’s judgment in favor of its clients, the appellees in a probate case governing the management and distribution of intellectual property and publicity rights within the estate of Richard Wayne Penniman, the legendary singer, songwriter and recording artist known as Little Richard, who passed away in 2020.
In his will, Richard Wayne Penniman instructed nine beneficiaries to jointly manage his publicity rights by forming a Tennessee LLC or another suitable entity. When an offer from a leading independent music publisher to purchase the estate’s intellectual property and publicity rights was received, a majority of the beneficiaries voted in favor of negotiating and accepting the offer. However, one co-executor and beneficiary strongly opposed the sale. After sending an inflammatory email to the music publishing company and others, the offer from the music publisher was withdrawn, resulting in significant financial loss for the estate.
Following the co-executor’s actions, which obstructed the sale and violated his fiduciary duties, the majority beneficiaries filed a motion to remove him as both a beneficiary of the publicity rights and a co-personal representative of the estate. The trial court agreed, finding that his conduct cost the estate a substantial amount and constituted a breach of his responsibilities. As a result, the co-executor was removed as a co-personal representative, forfeited his interest in the publicity rights, and was ordered to pay attorney’s fees and costs. He subsequently appealed the decision.
The appellate court upheld the trial court’s decision, finding that the co-executor’s actions obstructed a valid plan, which justified his removal and forfeiture of rights. Attorney’s fees were awarded to the majority beneficiaries.
The Loeb Litigation team representing the appellees in the matter includes partner Tim Warnock and associate Keane Barger.
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