Former CEO still wants paid
Written by Derek Potter
Here is a strange twist to the Hard Rock Saga. The former owners, who recently sold the park in bankruptcy court, are suing the new owners to get a cut of the profits from the park. They have filed suit and are seeking an annual "licensing fee" of $500,000 and 1.5 percent of gross revenues over 50 million. They are claiming intellectual property rights, which were allegedly transferred to another company owned by Goodwin and were not included in the sale.Tweet
Correct me if I'm wrong, but Steven Goodwin, the former CEO, was awfully quiet during Hard Rock's lackluster first year, and from all accounts, virtually silent during the bankruptcy hearings. Intellectual property rights are usually included in a bankruptcy sale, and the court records indicate that Hard Rock was sold "free and clear of all encumbrances." Needless to say that Mr. Goodwin is not a popular figure at the beach right now.
Here is the link.
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