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|Posted: Fri Feb 22, 2008 2:37 pm Post subject: 21/FEB/08: Scott Storch Ordered To Pay 500K Over Home Loan
|A manager and record label executive won a judgment against hit producer Scott Storch, who was sued for failing to pay back a loan to prevent the foreclosure of his home in 2003. David Menefield, owner of the LA Confidential label and former manager of rapper Nocturnal, filed a lawsuit against Storch in May of 2007.
Through his attorney Bret Lewis, Menefield claimed he lent Storch's Tuff Jew Productions $100,000 dollars to prevent the foreclosure of his home, when Storch was experiencing financial difficulty in 2003.
Storch never repaid the original loan and reneged on other portions of the agreement, including four promised tracks for Menefield's artist, which were valued at $100,000 dollars a piece.
A judge sided with Menefield on February 13th, ruling that Storch must pay $509,717, which includes the $100,000 principal amount plus a total of $400,000 for the four tracks and attorney fees.
"Scott Storch never had the courtesy even to call me and speak to me directly about this matter after I asked to be repaid," Menefield said. "I had to hire my tough Jewish lawyer Bret Lewis to beat the $509,717.50 from Scott Storch and Tuff Jew Productions in court. Representatives for Scott Storch could not be reached as of press time.