Elton John $30 million lawsuit against manager gets underway
LONDON--Elton John appeared in a British courtroom on Thursday (11/16) to testify in a $30 million lawsuit that he has filed against his former accountant, Andrew Haydon, according to published reports.
John is reportedly suing Haydon over $30 million in tour expenses that was allegedly billed to John's companies in the mid-‘80s rather than paid by the accounting firm John Reid Enterprises, for which Haydon was the managing director at the time. John's lawyers have held that a 1984 contract with the firm, now operating under the corporate umbrella of Price Waterhouse Coopers, placed the payment liability for the tour expenses on the accounting firm.
During cross examination, John detailed personal spending habits that Haydon's lawyers reportedly described as "mad." According to the report, John spent an estimated $3 million a month for 20 months after signing a $60 million recording contract with Polygram in January of 1996. The singer explained his actions by saying, "I am not a nest egg person ... I have no one to leave the money to. I'm a single man. I like spending my money."
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