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Deep Purple (Overseas) and HEC up for sale

HEC Enterprises and its successor Deep Purple (Overseas) are essentially bankrupt. Details are pretty scarce as to how and why did this happen, but both companies have been administered since January 19 by a firm called ReSolve Partners Limited with the goal of offering their business assets for sale.

HEC Enterprises and Deep Purple (Overseas) are the companies that managed the band between 1968 and 1976 (everything that happened post-reunion was managed by Thames Talent, who eventually acquired rights to the name Deep Purple circa 1987). Both HEC and DP(O) were owned 50/50 by Tony Edwards and John Coletta, with ownership after their deaths passing to their family members.

Both companies were sued in 2003 by Gillan, Glover, Lord and Paice for unpaid royalties. The resulting settlement didn’t include Blackmore, who made a separate claim that could be worth £710,000 for royalties not paid between 2007 and 2013 alone. So there’s a big hint as to what may have happened.

Thanks to Blabbermouth and Daniel Falaschi for the info.



16 Comments to “Deep Purple (Overseas) and HEC up for sale”:

  1. 1
    purpledaniel says:

    Isn´t it the greatest oportunity for the band members to get their hands on their own babies?

  2. 2
    bob4372 says:

    so does this mean we still will have a new album from our purps.

  3. 3
    Tracy(Zero the Hero)Heyder says:

    MK8 should purchase it and enjoy the next level of the legacy…. Owning the Brand and the Brand’s own Record Company.

  4. 4
    russ fleenor says:

    So they are hinting that Ritchie bankrupted the lot, oh come on now.

  5. 5
    Anthony says:

    @4 Ask LRT he is Blackmore’s accountant

  6. 6
    Blackwood Richmore says:

    Anybody ever played a board game named “Monopoly”?, hmmm….;

  7. 7
    RP says:

    Come on guys. Read before you comment. There is no direct influence on the current DP operations as these are OLD companies.
    The hint referred to above is merely that the legal battles have led to both companies keeling over. No-one is suggesting that it was RB on his own. It was everything together, possibly including mismanagement by the person(s) inheriting said companies.
    If MK8 members do decide to buy the companies a strong suggestion might be to include aforementioned RB in the deal. Also because part of that back-catalogue has his name attached to it.
    No need for developing any further animosity.

  8. 8
    Tracy(Zero the Hero)Heyder says:

    Post Ritchie has cleared their financial past….. it’s called Moving On. They kept on Moving… Far Away and it has been GREAT! MK8 could put the icing on their cake and eat it too. Purple Records needs to be their Swan Song (remember when they had their own label?)….(as in LZ Swan Song Records?). Why not? You only live once on this earth. And then Eternity somewhere else…(for the Believers as Myself). Enjoy Heaven on Earth while it is there. Grab the label. Make it yours. Go out with a new album and your own label. Let Bob Ezrin in on the deal. He would be a great partner and investor. Oh and also enjoy the RRHOF while you are at it…..

    Ch-BeerZ

  9. 9
    James Gemmell says:

    Bankruptcy – at least on this side of the pond – is the “in” thing nowadays: rack up a ton of debt (on purpose), stuff some money under the mattress, then plead bankruptcy. Come out smelling like a rose.

  10. 10
    Adel says:

    I think current living 4 members of MK2 should buy the company then sell it to Apple ITunes for millions!! And retire in the Cayman island… Tax free…BTW Cayman Island song is Ian Gillan best solo song!!!

  11. 11
    gareth says:

    How will this affect future archive releases such as Amsterdam 69,Roundhouse 72 and remastered versions of Perfect Strangers and HOBL with the proper longer running times.
    What about the edel series of releases ?

  12. 12
    purpledaniel says:

    In the meantime, seems like Edel´s archive reissue program has not been affected. Long Beach 76 comes out on April 8.

  13. 13
    gareth says:

    hey purpledaniel do you have a link for that…dont see it on Amazon yet….cheers

  14. 14
    LRT says:

    Purpledanial it’s about “lead time.” It takes planning and then months to release anything like that. Nothing that is already in motion will be hurt here.

    James Gemmel we agree on a fact for once. Respect comes around. Cheers!

    Adel all I can advise is to keep dreaming with these comments. Forget about it, you’re not going to crack this. It’s simple yet very complicated and the reasons why are not “press material.”

  15. 15
    purpledaniel says:

    @gareth

    What do you mean with Amsterdam 69 and Roundhouse 72?
    Don’t think Edel has any of the tapes.
    Long Beach 76 is abailable in Amazon England and Germany.

  16. 16
    Rock Voorne says:

    @ 15. Amsterdam 69 is the radiobroadcast/recording by DUTCH radio/tv station VPRO, a part of the public DUTCH network.

    Years ago I understood there had been efforts to buy the tapes but VPRO did not want to sell.

    Roundhouse 72?

    https://www.collectorsmusicreviews.com/deep-purple/deep-purple-dagenham-roundhouse-1972-darker-than-blue-215/

    https://www.youtube.com/watch?v=p8qS9gTSHdQ

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