Bank Sues Courtney Love Over Cobain Trust

(CN) – A bank has sued Courtney Love in a dispute over the trust set up for Francis Bean Cobain, her 17-year-old daughter with the late Kurt Cobain. Both Love and the Trust want the $1.2 million in Kurt Cobain’s royalties account, First Republic Bank says in San Francisco Federal Court.

     First Republic, a division of Merrill Lynch, filed an interpleader action claiming that Love and Laird Norton Tyree Trust Co., trustee of the Francis Bean Cobain Irrevocable Trust, both want $1.2 million from a bank account held by The End of Music, the company that receives and distributes royalties from Cobain’s music.
     First Republic says it planned to close the account “for reasons not relevant here.”
     The bank says it asked Love and Laird Norton to submit “original jointly signed instructions” on how to disburse the money, and warned that it would file an interpleader action if they refused.
     First Republic wants an order allowing it to deposit the $1,234,093.54 with the court and releasing it from liability for the account.
     It’s the third time Love was named as a defendant this year in money squabbles. American Express sued the singer in May, claiming she had run up $352,000 in credit card bills and refused to pay.
     Love’s bodyguards sued her in September, claiming she owed more than $58,000 for their services.
     In the most recent complaint, First Republic is represented by Batya Swenson and Adam Hoffman with Hanson Bridgett.

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