Hipgnosis Songs Fund Limited has announced its pursuit of an indemnity from Merck Mercuriadis and Hipgnosis Songs Management Limited, the Investment Adviser, following High Court proceedings. The Investment Adviser, majority owned by funds managed and/or advised by Blackstone, has declined to indemnify the company against potential liabilities arising from Mr. Mercuriadis' alleged misconduct. Despite assurances of meritless claims and vigorous defense, the Company is now preparing to bring a Part 20 Claim in the High Court against the Investment Adviser to seek a full indemnity.