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Sunday, 21 October 2012

Prince sues debt collection agency to recover more than $116K

Just one minute: Prince has filed a law suit to recover more than $100,000 he says was wrongly taken from his bank account

Stories of collection agencies going after debts owed by celebrities are nothing new.
But musician Prince has turned the tables on Capital Asset Protection, filing a lawsuit against the Calabasas-based company for allegedly taking more than $100,000 from his bank account.
CAP was collecting the money for a lawsuit Prince previously lost over a music production contract, according to TMZ.According to the suit, Capital Asset Protection made two withdrawals from Prince's bank accounts in June, to the tune of $105,949.14 and $10,278.94.
In documents filed on Thursday in Los Angeles County Superior Court, lawyers for the 54-year-old star say a judge vacated that original judgement in October, 2011, thereby erasing his debt to the production company.
Prince is suing to get back his $116,228.12 ... plus interest.
Prince had an estimated net worth of between $100million and $250million in 2011, according to USA Today.
He was listed in TIME Magazine's 2010 annual ranking of the '100 Most Influential People in the World'.
He has been in a relationship with protégée Bria Valente since 2007.

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