We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Music Copyright
                
                    wheelie_haes                
                
                    Posts: 12 Forumite
         
            
         
         
            
         
         
            
                         
            
                        
            
         
         
            
                    Hello, I am a songwriter and I was discharged from Bankruptcy last year and the Trustees are still claiming all my song writing royalties from PRS etc. Is this right? There was no Income Payment Order or anything like that. Just wondered if anybody has any knowledge on this.
Thanks.
                Thanks.
0        
            Comments
- 
            I think that for any songs written befor your BR, the OR will have the royalties indefinitely. Let me see what I can find.0
 - 
            Yep, this is it, longwinded but basically the rights to the work now belong to the trustee (presuming that they were created solely by you) and will remain the property of the trustee until the trustee decides to dispose of them
http://www.insolvencydirect.bis.gov.uk/freedomofinformation/technical/TechnicalManual/Ch25-36/Chapter31/part10/part2/part_2.htm#31.10.100Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 - 
            I don't own the copyright so how can they be treated as an asset?0
 - 
            who owns the copyright then?Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 - 
            The Trustee is claiming my recordings are an asset, but the interesting part is I do not own any of my Copyright - very few songwriters do. Ownership of Copyright is assigned the moment you sign a Publishing and/or Recording Contract - which I did many years before the bankruptcy and it clearly states in those contracts I 'assign all my rights' to the Publisher.
So I clearly do not 'own' any copyright, my Publisher does and I can absolutely prove that; so by definition the Trustee surely cannot claim my recordings as an asset?
I am simply paid a royalty for my share of the recordings which to my understanding must be treated as 'Income', therefore requiring an Income Payment Order for them to claim it legitimately, which they never obtained. Have they made a mistake?0 - 
            well if you have indeed actually sold the copyright then, yes it would not vest and the royalties would be classed as income.
It is also possible that the publisher may simply have been granted a licence with the author retaining the copyright, it is dificult to tell without seeing the documentation and/or being a specialist in that area.
what did you receive in return for transferring the copyrightHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 
This discussion has been closed.
            Confirm your email address to Create Threads and Reply
Categories
- All Categories
 - 352.3K Banking & Borrowing
 - 253.6K Reduce Debt & Boost Income
 - 454.3K Spending & Discounts
 - 245.3K Work, Benefits & Business
 - 601K Mortgages, Homes & Bills
 - 177.5K Life & Family
 - 259.1K Travel & Transport
 - 1.5M Hobbies & Leisure
 - 16K Discuss & Feedback
 - 37.7K Read-Only Boards