The law firm of Patterson, Belknap, Webb & Tyler have sued Prince for unpaid legal fees for cases they handled for him in Ireland, New York and California. They continued to support and fight his cases even though the singer only paid $125,000 of the fees which is only a fraction of the $700,000+ that he owed them.
A Manhattan Supreme Court judge decided in the lawyers favor and ordered Prince to pay $708,687 to the law firm not including an interest rate of 9% dating back to 2008.
Those of us who follow Prince religiously have seen this trend with him on more than a few occasions, and don’t understand it too well. With the money he makes, this has always been unusual that he would let his finances get out of control where he’s ordered to pay fines and additional unnecessary interest instead of just paying what he owes in the beginning. That’s a life lesson all of us have probably learned over time. Pay it when you owe it, even if it hurts your pocketbook, because it always costs more the longer you wait.