The management of Magikal Entertainment has resolved to take a legal action against the rap artiste, CocoIce over a lingering unpaid debt running into several millions of Naira the artiste is owing the management company after having made several overture to her for her to pay up the money. This much was revealed in a statement made available to us by the company.
According to Biodun Caston-Dada, the management CEO, "we have sent her several e-mails, requesting for the payment of the debt since she had signed up with a record label over 4 months ago, but she had been ignoring our mails and NEVER replied any, this her nonchalant attitude is leaving us with no other option but to take a legal action for us to be able to recoup our investment made on her and the money she's owing us. We have a duly signed agreement by her that she is owning Magikal Entertainment and we are set to recoup the money through a legal means", he stated.
The management company further stated that the money in contention were spent on her songs and music video productions, welfare as well as many other promotional items while she was still with the company.
The company said that they've tried all within their power to resolve the issue amicably out of court but the rap artiste is not yielding on her part or show any concern to pay up the said money.
It will be recall that the rap artiste’s contract was recently terminated by the management company over irreconcilable differences.