On November 15, 2022, The Pullman Group filed a lawsuit in the U.S. District Court in the Southern District of New York against the Estate of James Brown for breaking the deal Brown made with The Pullman Group in 1999. Facing financial difficulties in 1999, James Brown engaged The Pullman Group to raise $26 million by issuing securities known as “Pullman Bonds” that were backed by Brown’s musical assets. As part of the deal, Brown gave The Pullman Group the exclusive right to any future refinancing or sale of Brown’s assets. After Brown’s death in 2006, however, Brown’s Estate breached this right by selling Brown’s assets to Primary Wave Music Publishing.
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