Elton John has his day in Court with PwC

Posted by accountingweb on Oct 31 2000 112 printer friendly

It's Goodbye Yellowbrick Road and Hello High Court in London, where Sir Elton John is suing both PricewaterhouseCoopers and a former business manager for negligence in managing his money several years ago.

Apparently, there is 20 million pounds missing that can be traced to a man named Andrew Haydon, the former managing director of John Reid Enterprises (JREL). JREL was John's management company that handled various business matters.

John says Haydon did not manage tour expenses in the United States properly, including booking agents, accountants and producers. PwC is linked to the case because John claims the firm did little to help recoup the money.

In 1998, John replaced PwC with KPMG. News reports indicate it may be up to eight weeks for the court to hear testimony and make its ruling.

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