(CN) – A commemorative coin manufacturer says it paid $750,000 for rights to make a Michael Jackson coin, but the rights holder refused to approve the design and won’t return the money.
On Aug. 20, just shy of 2 months after the King of Pop’s death, First Commemorative Mint says it paid Bravado International Group Merchandising Services for the rights to make the coin.
Bravado is the licensing agent for co-defendant Triumph International, which owns the rights to license Michael Jackson merchandise, according to the complaint in New York County Court.
First Commemorative says it paid the agreed-upon $750,000 and immediately started producing the coins.
But Bravado refused to approve the design, which First Commemorative says kept it from realizing its planned release date, scheduled to coincide with the release of Jackson’s concert film, “This Is It.”
In November, First Commemorative says, Bravado justified the delays by claiming Jackson’s estate “did not want any commercials for merchandise.”
First Commemorative says that violates their agreement.
It wants its money back and damages.
It is represented by Stuart Levy and James Doherty with Eisenberg Tanchum & Levy.