Lawsuits against boy-band impresario Lou Pearlman grow to $130 million
Written by Lou Pearlman Writer   
Friday, 02 February 2007

ORLANDO, Florida: Claims against boy-band impresario Lou Pearlman have grown to more than $130 million (€99.85 million) through a spate of lawsuits by creditors and investors related to his business interests that range from an airline leasing company to restaurants.

That total does not include $33 million (€25.35 million) judges have recently ordered him to pay on previous lawsuits, the Orlando Sentinel reported in Friday editions.

The latest suit, filed by Bank of America Thursday in Circuit Court in Orlando, alleges the founder of the Backstreet Boys, 'N Sync and US-5 has defaulted on business and personal loans worth more than $17 million (€13.06 million).

A week earlier the same bank filed a mortgage-forclosure suit seeking more than $25 million (€19.2 million) or possession of Orlando's Church Street Station entertainment complex.

A Pearlman spokeswoman did not have an immediate comment Friday, but his companies issued a statement Thursday saying rumors the Bank of America already had taken over Church Street Station were false.

In a November interview with The Associated Press, Pearlman blamed the lawsuits on people trying to cash in on his success.

"I know a lot of people come at me, as a deep-pockets theory," he said then. "The more successful you get the more lawsuits you get, unfortunately."

 

Posted At Associated Press

ORLANDO, Florida: Claims against boy-band impresario Lou Pearlman have grown to more than $130 million (€99.85 million) through a spate of lawsuits by creditors and investors related to his business interests that range from an airline leasing company to restaurants.

That total does not include $33 million (€25.35 million) judges have recently ordered him to pay on previous lawsuits, the Orlando Sentinel reported in Friday editions.

The latest suit, filed by Bank of America Thursday in Circuit Court in Orlando, alleges the founder of the Backstreet Boys, 'N Sync and US-5 has defaulted on business and personal loans worth more than $17 million (€13.06 million).

A week earlier the same bank filed a mortgage-forclosure suit seeking more than $25 million (€19.2 million) or possession of Orlando's Church Street Station entertainment complex.

A Pearlman spokeswoman did not have an immediate comment Friday, but his companies issued a statement Thursday saying rumors the Bank of America already had taken over Church Street Station were false.

In a November interview with The Associated Press, Pearlman blamed the lawsuits on people trying to cash in on his success.

"I know a lot of people come at me, as a deep-pockets theory," he said then. "The more successful you get the more lawsuits you get, unfortunately."

Posted At Associated Press