Facing a lawsuit with the estate of Country star Don Walser, Antone's
Records, Texas Music Group, and Texas Clef Entertainment have all
filed for Chapter 11 bankruptcy protection. The Austin, Texas, record
store and club that operate under the name Antone's are not included
in the suit.
The lawsuit alleges that those corporations and
three individuals, Randy Clendenen, Heinz Geissler, and James Heldt
committed fraud, breach of fiduciary duty and breach of contract.
The lawsuit was set to commence in state court on December 1, but
the bankruptcy filing will automatically delay any such proceedings.
None of the individuals identified have yet to file
for bankruptcy protection.
In the lawsuit, which was originally filed in 2005,
The Walser Estate contends that Don Walser's music has been packaged
in 'best of' compilations released on by Texas Music Group and the
estate has not received contractually required accounting statements
nor monies owed them by the defendants in this case. The recordings
were originally released on Geissler's Watermelon Records, but that
label has subsequently declared bankruptcy.
"Walser
family hopes that the lawsuit against the non-corporate individual
defendants can quickly be severed away from the bankrupt entities,
as it has been the family's contention from the inception of the lawsuit
that the individuals are at fault and using the corporate shells to
avoid responsibility." said a press release from Walser attorney
Craig Barker.
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