October 31st, 2005 09:47 PM |
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M.O.W.A.T. |
NEW YORK (Billboard) - Music publishing and other copyright assets of M.C. Hammer have been put up for sale nine years after the multi-platinum rapper filed for bankruptcy in California.
The court-appointed publishing administrator says that the catalog is still generating "substantial income."
The sale will include a 50% interest in "U Can't Touch This," which hit No. 1 in 1990 on Billboard's Hot R&B/Hip-Hop Singles & Tracks chart, and a 90% interest in "2 Legit 2 Quit," which peaked at No. 5 on the Hot 100.
Wixen Music Publishing in Calabasas, Calif., has been the court-appointed administrator for the publishing assets of five Hammer companies since shortly after the 1996 bankruptcy filing by M.C. Hammer, whose legal name is Stanley Burrell. The delay in offering these assets is the result, in part, of litigation with EMI Music Publishing, EMI Records and others, Randall Wixen told Billboard. All the claims have been resolved.
The bankruptcy trustee is attempting to locate 33 songwriters who had deals with the Hammer publishing companies. They risk losing their royalties if they do not contact attorney Terrance Stinnett with Goldberg, Stinnett, Meyers & Davis in San Francisco by December 31. After that date, the royalties will by paid to the state of California as unclaimed property.
According to an ad placed in the November 5 issue of Billboard, bids are due by February 28, 2006. |
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