Billy Preston's Bankruptcy Case Finally Settled, Eight Years After His Death
One of music's monumental figures, the legendary "fifth Beatle," Billy Preston, died eight years ago at the age of 59, but not without controversy.
After a legacy of solo hits and recording credits with the Fab Four, few could have guessed that one of the mega-afro-sporting, gap-toothed artist's biggest songs "Will It Go Round in Circles?" would be symbolic of bitter legal battles for his lucrative, multi-million dollar estate.
On Monday, a federal judge in California ruled that Preston, despite a long history of health problems stemming from cocaine addiction, was not incapacitated at the time he filed for bankruptcy in 2005.
The court dispute stems back to 2011, when plaintiff Todd Neilson (the Chapter 7 trustee for the bankruptcy estate) filed a complaint against Preston's family and Joyce Moore, his long time manager, seeking a judgment that Preston was not incapacitated when he filed a bankruptcy petition in 2005 in the Central District of California.
Preston's trust remained revocable, and the assets currently held by Neilson and any other assets of Preston are assets of the bankruptcy estate.
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