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The Mondays shared song royalties, even though he did the bulk of the writing.
Other equity trusts making their debut last year included Baillie Gifford US Growth, Merian Chrysalis, which invests in private equity, and Hipgnosis Songs, a song royalties company.
Mr. Lerner's attorney, David Grossberg, said that the Government already had a lien on Mr. Lerner's song royalties but that the amount of the Government's share was in dispute.
In 1997, he sold $55 million of Bowie Bonds backed by his song royalties; the next year, he founded the technology company Ultrastar and his own Internet service provider-cum-fan club, Bowienet (davidbowie.com).
He was 37, a graduate of the University of Pennsylvania and a successful architect of so-called Bowie bonds, in which entertainers like the rock singer David Bowie sell bonds backed by their song royalties.
As part of his severance package, Moran continued to collect song royalties and was granted use of The Wiggles' studios.
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In 2009 their per song royalty rate was.093 cents per song which imputes that Pandora transmitted 29.8 billions songs.
A closer examination reveals that Spotify has raised tens of millions of dollars, given equity to the record labels, is under constant attack by hackers, uses clever P2P technology, is accruing enormous per song royalty obligations and has the seemingly impossible task of figuring out how to generate enough money from a free ad model to satisfy the music companies.
The harsh treatment of the Song royalty softened after the death of Huizong in 1135.
Officially, the streaming sites have to pay the same per-song royalty whether they stream 1 millions song per month or 10 million.
Westergren also denied that his quest to reduce the per-song royalty rates that Pandora pays is fundamentally anti-artist.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com