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Elton John World News: Missing Millions: Elton court case ends

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Verdict could take weeks

Friday 2 February 2001 @ 4:56 - GMT

Elton's missing millions British High Court action about overseas touring costs closed in London February 1, 2001.

 

But the verdict will have to wait. At the end of the hearing, Mr Justice Ferris reserved his decision and is not expected to announce his ruling for several weeks.

 

Sir Elton is suing Andrew Haydon, of Elton's former management company John Reid Enterprises (JRE), and City accountancy firm PricewaterhouseCoopers (PwC), which looked after his business interests.

 

Elton alleges Haydon was negligent in allowing JRE to charge him tour expenses - including booking agents, accountants and producers. Elton's case is that the "several millions" which he paid out in touring expenses should have been borne by JRE under a management agreement. PricewaterhouseCoopers

(at that time called Price Waterhouse) are accused by Elton of negligence in managing his affairs. Both defendants contested vigorously Elton's legal action. The case, which began October 30, 2000, was expected to last eight weeks. It ran to nearly 11 weeks.

 

Sir Elton has already accepted US$5 million (£3.4 million) from his former manager and ex-lover John Reid in settlement of his claims against him.

 

EJW.com court reporters will also continue to bring you the latest

breaking news about this court case, and provide succinct context and relevant legal notes to guide you through a complex case, in the weeks ahead. Please be aware that Hercules is unwilling to prejudice the court hearing, and its expert panel will therefore not offer any "what it all could lead to" analysis of the deliberations until the trial closes.