Video: 'Why Did The Beatles Break Up?'

(Friday, March 12, 1971; during the Break-up of The Beatles) — Paul McCartney today won the first round in his battle to dissolve The Beatles‘ partnership when a High Court judge in London appointed a public receiver to manage the group’s assets.

The ruling ousts the American businessman, Allen Klein, and his company, ABKCO Industries, as The Beatles’ business manager.

However, the appointment of the receiver and manager was stayed, or postponed, for seven days pending a possible appeal by the other Beatles, John Lennon, George Harrison, and Ringo Starr, who have opposed McCartney’s action. The lawyer for the three men said no decision had been’ made.

None of the Beatles nor Klein were in the London courtroom to hear the two-hour judgment.

The judge, Sir Blanshard Stamp, said there had been no evidence that Klein had put or would put money from The Beatles’ partnership into his own pocket. But he said McCartney’s mistrust was justified in view of Klein’s dealings with an American company, Cameo Parkway, Inc., and his conviction in New York on income tax charges even though the conviction is being appealed.

McCartney had sought the appointment of a receiver, to protect his interests until his suit for legal dissolution of the group is heard later this year. The court named James D. Spooner, a London accountant, to the post.