CocoIce’S former record management outfit, Magikal Entertainment, is set to take legal action against the rapper over unpaid debts running into millions of naira the artiste is allegedly owing the company.
After having made several overtures to Coco over the money, the CEO of the outfit, Biodun Caston-Dada, told R in a chat that they had sent her several e-mails requesting for the payment since she had signed up with another record label four months ago, but she had been ignoring their mails.
“Her nonchalant attitude is leaving us with no option than to take legal action against her if we want to recoup our investment on her and also, the money she’s owing us.
“We have an agreement, signed by her, that she is owning Magikal and we are set to get the money back”, he asserted.
The money in contention was said to have been spent on her songs and music video productions, welfare, as well as many other promotional items while she was with the company.
However, CocoIce’s spokes woman, who does not want her names in print, told R in a telephone conversation that they were not ready to react or comment on the development.
“We have nothing to say about the matter. When the time is ripe for us to talk, we will ,” she stated.
The company said that they’ve tried all within their power to resolve the issue amicably but the rap artiste is not yielding on her part nor showing any concern to pay up the said money, Biodun reiterated.
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