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Hipgnosis Songs Fund to seek indemnity from Mercuriadis over legal claims

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© Reuters. FILE PHOTO: A headset is seen in front of displayed Hipgnosis logo in this illustration taken, June 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) – Hipgnosis Songs said on Monday it is seeking protection against a potential liability from founder Merck Mercuriadis on a legal claim against the music royalties fund, its investment adviser and the industry veteran.

Hipgnosis Music Limited (HML), founded in 2015 and now being wound up, served proceedings in November alleging “a diversion of business opportunity” from HML to the London-listed fund and Hipgnosis Song Management, which were founded by Mercuriadis in 2017.

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