Chicago court orders Chance the Rapper’s ex-manager to forfeit part of compensation — Rolling Stone

A Chicago court has ordered Pat Corcoran, the former manager of rapper Chance the Rapper, to forfeit part of his commissions and a 15% management fee related to deals involving the artist’s merchandise. As Rolling Stone reports, the amount Corcoran could lose may exceed $1.5 million.

Court ruling

The 28-page ruling was issued by Cook County Circuit Court Judge James E. Hanlon Jr. It concerns a lawsuit over breach of fiduciary duty, which the judge considered separately after a March trial in which Chancellor Bennett prevailed in a dispute with his former manager over contract claims and interference.

The judge ruled that Corcoran must turn over certain commissions paid by vendors and forfeit the 15% management fee in matters related to merchandise. According to the court, during the relevant period Corcoran earned more than $10 million from managing Bennett’s music business, tours, and merchandise sales.

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Limits of liability

The court rejected Bennett’s claims for punitive damages and the forfeiture of all of Corcoran’s compensation for that period. The judge noted that outside his work as a manager and agent, Corcoran was not required to offer Bennett all investment opportunities and could develop his own business.

At the same time, the judge concluded that the harm from disloyalty was concentrated in the merchandise business, where Corcoran’s company was on both sides of Bennett’s purchasing transactions. Corcoran was also ordered to transfer ownership of the chancraps.com domain, which he registered in his own name in 2013 and controlled throughout the five-year legal dispute.

Bennett told Rolling Stone that he was grateful to have this chapter of his life come to an end and hoped to eventually tell his version of events. A representative for Corcoran, in turn, told the publication that the court found no basis for Bennett’s demand for more than $10 million in damages.