Donald Fagen, As Sole Surviving Steely Dan Member, Takes Legal Action Against The Estate of Walter Becker for control of the band's name

This could get messy.

Just a couple of months after the death Walter Becker, Donald Fagen has filed a lawsuit against his decades-long Steely Dan bandmate’s estate. At the heart of the suit is control over the use of the band name itself. As the Hollywood Reporter noted, back in 1972 when the band became incorporated, Becker and Fagen entered into what’s called a Buy/Sell agreement. Essentially what that means is that in the event someone quit the band or died, Steely Dan as an entity purchases all of that members shares. In this case, as the sole living member of the original Steely Dan, that would make Fagen the sole owner of the band itself.

Shortly after Becker’s death, his estate sought to appoint his widow as an officer of Steely Dan while demanding 50 percent ownership. In Fagen’s view, this move violates the 1972 agreement. “By the 2010s, Fagen and Becker were the only remaining shareholders and signatories to the Buy/Sell Agreement,” his attorney Louis “Skip” Miller outlined in his complaint. “Four days after Becker’s death, on September 7, 2017, the Becker Defendants sent Fagen a letter stating that ‘We wanted to put you on notice that the Buy/Sell Agreement dated as of October 31, 1972 is of no force or effect.'”

In addition, Fagen is also suing the band’s management firm, Nigro, Karlin, Segal, Feldstein & Bolno claiming that they’ve been withholding records. “Especially now, with the Becker Defendants taking a position adverse to Steely Dan and with the Becker Defendants retaining NKSFB, a full and complete accounting is necessary to protect Plaintiffs’ interests,” Miller continued.

All told Fagen is seeking recognition of himself as sole owner of the Steely Dan name and all rights that come along with it and upwards of $1 million in damages .


The lawsuit is HERE.






Edited 2 time(s). Last edit at 2017-11-23 01:14 by schillid.

[www.hollywoodreporter.com]

Donald Fagen says he became the sole officer of Steely Dan upon Walter Becker's Sept. 3, 2017, death.
Steely Dan lead singer Donald Fagen is suing the estate of his longtime bandmate Walter Becker in an effort to keep the band's name and music alive.

Fagen and Becker's decades-long partnership is detailed in the filing, which notes the two continued playing together even when the late guitarist's health began to decline.

At the center of the lawsuit is a 1972 buy-sell agreement signed by the original bandmembers when Steely Dan was incorporated. According to the complaint, which was filed Tuesday in L.A. County Superior Court, the contract provides that whenever a member of the group quits or dies, Steely Dan purchases all of that member's shares in the group.

"By the 2010s, Fagen and Becker were the only remaining shareholders and signatories the complaint. "Four days after Becker’s death, on September 7, 2017, the Becker Defendants sent Fagen a letter stating that 'We wanted to put you on notice that the Buy/Sell Agreement dated as of October 31, 1972 is of no force or effect.' "

The letter also sought to appoint Becker's widow as an officer of Steely Dan and demanded 50 percent ownership, according to the complaint. Fagen also says the Becker defendants currently operate the band's website and refuse to relinquish or share control of it.

Fagen is also suing the group's business-management firm, Nigro Karlin Segal Feldstein & Bolno, in an effort to obtain an accounting, claiming the firm has been withholding records.

"It has recently come to light that NKSFB engaged a law firm on Steely Dan’s behalf without disclosing the engagement to Fagen," writes Miller. "Especially now, with the Becker Defendants taking a position adverse to Steely Dan and with the Becker Defendants retaining NKSFB, a full and complete accounting is necessary to protect Plaintiffs’ interests."

Fagen is seeking upward of $1 million in damages and is asking the court for a declaratory judgment that the buy/sell provision is valid and enforceable and that he is the sole owner of the Steely Dan name and all rights associated with it.

“This lawsuit is about a contract, the enforcement of that contract and the continuity of Steely Dan,” Miller tells The Hollywood Reporter. “We think the contract is very clear on its face, and we hope this lawsuit is resolved expeditiously.”



Edited 1 time(s). Last edit at 2017-11-22 17:43 by schillid.

This is so disgusting , that he is barely in the ground and buried and his family of vultures is waiting to pick the carcass clean .Ultimate greedy move .



Edited 1 time(s). Last edit at 2017-11-22 20:47 by TheGreek.

I don't get it. I thought everyone was fine with Fagen moving on and it was basically a given that this was fine with Becker's family? I was already pretty against him continuing as Steely, but others seemed fine with it. But this doesn't seem to be right if its not seamless.

As far as fans go, it seems most everyone was fine with it.
For some reason, the estate is not quite there unless they get what they're asking for ($$$$$$$).

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TheGreek
This is so disgusting , that he is barely in the ground and buried and his family of vultures is waiting pick the carcass clean .Ultimate greedy move .

Yeah not quite sure what to think of all this yet until more facts are known regarding their demands, and their reasons for not wanting to honor the original agreement.
Sounds kind of vulture-esque on the surface though.

_____________________________________________________________
Rip this joint, gonna save your soul, round and round and round we go......

Well, I will say it -- I wonder what kind of deal Mick and Keith (and/or Charlie) have worked out.

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wonderboy
Well, I will say it -- I wonder what kind of deal Mick and Keith (and/or Charlie) have worked out.

Cmon we all know the Glimmer Twins have there finances and affairs in order after the whole Allen Klein / ABCO mess .

Donald Fagan has never struck me as overly compassionate.

It's very simple. Fagen and Becker had a legal agreement to cover the continuation of the band. Becker's estate would be compensated with a buy out. It sounds now like Mrs. Becker wants to squeeze as much money out of it as possible, including wanting future veto power on projects. This is not what Walter Becker wanted.

I now understand why Fagen is out there touring as Steely Dan, to hold onto the flag. At least he's working for the money, unlike the late-in-life spouse.

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wonderboy
Well, I will say it -- I wonder what kind of deal Mick and Keith (and/or Charlie) have worked out.

We'll never know, but I would be willing to bet that it makes sense to all concerned. We've seen some sniping about other matters, but there has never been a hint of any hard feelings between Bill and the remaining Stones regarding the financial aspect of his leaving the band.

Ugh, what a mess. I hate reading about stuff like this.

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swimtothemoon
Donald Fagan has never struck me as overly compassionate.

You're right.