Paul McCartney has settled a lawsuit he filed in January against Sony/ATV, in an attempt reclaim the copyrights to a bunch of Beatles songs he wrote or co-wrote that are owned by the publishing company.
According to The Hollywood Reporter, McCartney attorney Michael Jacobs sent a letter to U.S. District Judge Edgardo Ramos announcing that the rock legend and Sony/ATV had entered into “a confidential settlement agreement” and requested that the action be dismissed “without prejudice.”
While specific details of the settlement are unclear, an order issued by the court states that if a further dispute arises between the parties, New York federal court will “enforce the terms” of the agreement.
The lawsuit launched by Sir Paul involved technical matters of copyright law in the U.S., under which creators who sold copyrights before 1978 have a right to reclaim them at a certain point. McCartney had provided Sony/ATV with notices that he intended to reclaim the copyrights as soon as the law permitted.
But working against Sir Paul was a similar legal circumstance last year involving Duran Duran, in which a British court gave precedence to British contract law over American copyright termination law. In that case, the court allowed a publishing company to frame Duran Duran’s attempt to reclaim their copyrights as a breach of contract.
Lawyers for both parties declined a request from The Hollywood Reporter to comment further about the settlement.
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Source: Classic Rock News