James Brown is trying to buy back the remainder of his back catalogue, which is currently owned by investors up to the value of $20million, but has been blocked from getting a loan from the Royal Bank of Scotland by financier Michael Pullman.
Brown has filed a suit against Pullman, claiming that it's Brown's right to own the songs, while Pullman claims there is "years" left in their agreement to have him control the assets.Pullman was the man behind David Bowie's decision to sell himself on the stock market in 1997. The financial shuffling frees artists from their record label and allows them to shift their entire back catalogue around to whoever will give them the best deal.
Pullman currently controls the royalties to hits like 'I Feel Good (I Got You)' and 'Papas Got A Brand New Bag'.
