Boy band impresario loses in court

ORLANDO, Fla., Feb. 3 (UPI) -- A Florida judge has ordered Trans Continental Airlines and related companies into receivership while courts untangle Lou Pearlman's business dealings.

The state claims that Pearlman -- the impresario behind boy bands The Back Street Boys and 'N Sync -- used millions of dollars raised from investors for purposes other than Trans Continental, the Orlando Sentinel reported.

While Circuit Judge Renee Roche in Orlando took steps to protect the assets of Trans Continental Airlines, Trans Continental Travel Service Inc. and Trans Continental Enterprises LLC, a federal judge in the same city said Pearlman's companies must provide financial information to an Indiana bank. The bank is one of many creditors and investors that have sued Pearlman.

Pearlman sent the newspaper an e-mail saying he is in Germany promoting his latest boy band, US 5.

"My executive team and I are working hard to resolve the issues," he said.