16018

Badfinger Amazing and Revealing Financial

Currency:USD Category:Dolls & Bears Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
Badfinger Amazing and Revealing Financial
Badfinger Amazing and Revealing Financial Document Archive. An assortment of several documents, including record company paystubs, accounting ledgers and other contractual documents direct from the files of the Badfinger management. Of particular interest among these documents is the following: a formal one page letter to Stan Polley on Apple Records letterhead from Allen Klein, December 20, 1972. Retaining Polley's services during the discovery of their highly publicized financial woes, the letter reads in part: "In accordance with the provisions of the contract dated July 23, 1968 you are hereby notified that the term of this agreement is extended for a period equivalent to that necessary to remedy product deficiency breach." Additional documents of interest include a copy of the official deposition taken from Stan Polley regarding the dispute over missing funds with Warner Brothers along with the original paystubs in the sum of $500,000 and $100,000 issued by Warner Brother to Badfinger, Inc. -- presumably the sums that mysteriously "vanished" from the band's account and resulted in their demise. Last -- but certainly not least -- included with this lot is the original 13-page recording contract between Warner Brothers Records and Badfinger Enterprises, Inc. in which Stan Polley signs the group to a three album term with the company. The paper trails and intermingled connections of these documents are intriguing, and could very well be key missing links in the chain of financial events that brought one of rock's most promising bands to a tragic halt. From The Tom Fontaine Music Memorabilia Collection. Important notice: Heritage usually auctions material at the rate of 200-250 lots per hour. On some occasions eBay Live bid software or the Internet may not be able to keep up with the pace of the auction. We recommend placing a realistic absentee bid now as insurance to avoid disappointment. Occasionally the auctioneer may eliminate or reject an eBay Live bid, and the auctioneer may also reopen a lot after the close of the eBay live bidding (usually because we missed an audience bid), and may reject your bid even if it shows you as the winning bidder. By bidding via eBay Live, you agree that Heritage may award the lot to another bidder at its sole discretion under the circumstances described above or any other reasonable circumstances. Since eBay bids are not shown to us until we open the lot on the floor, we treat those bids just like floor bids. In most cases the floor responds before the eBay bid is presented to us, due to Internet lag time, so for consistency we have made it a policy that floor bids are always considered first over tie eBay live bids. Also please note that all Heritage lots purchased through eBay Live carry a 20% Buyer's Premium. Please make sure you read the Terms and Conditions before you bid.