Singer Elton John Loses Court Battle to Win back Millions
LONDON - Elton John on Wednesday lost his court battle for damages totaling millions of pounds (dollars, Euros) brought against two companies in charge of running his vast fortune.
The singer-songwriter behind hits like "Candle in the Wind" and "The Lion King" had accused his former management company, John Reid Enterprises and former accountants, Price water house Coopers (formerly Price Waterhouse), of negligence in charging him overseas tour expenses.
The rock star was seeking to recover 14 million pounds (20 million dollars, 22.5 million euros) in damages, a sum he claims John Reid Enterprises had charged him while on tour.
The 53 year-old argued that the company should have taken on the cost itself.
A former boss of John Reid Enterprises, Andrew Haydon, denied the charges.
Elton John, on tour in Atlanta, US, would appeal against the High Court judgement, his lawyer Frank Presland said.
The singer could now face a legal bill of eight million pounds.
The trial, which lasted 43 days, shed light on his extravagant lifestyle. He told the court that he had spent 30 million pounds in 20 months, starting in January 1996.
"There was so much money coming in I decided I could live a lavish lifestyle. I have no dependents and I was going to enjoy my life. I am not a nest-egg person," he told the court.
During the 20 month spending spree, he told the court how he had spent 293,000 pounds on flowers.
"I like flowers," he said -- AFP