Remember when Kanye West said adidas froze his accounts? Well, that turned out to be true.
Spotted on Digital Music News, nearly unsealed court docs have revealed that Ye’s former business partners, adidas, did file legal action to freeze $75 million assets held by Kanye West’s YEEZY brand.
According to the website, the German-based sportswear company filed the case on November 11, just days after AntisemYe said he would go “death con 3 on Jewish people” and a bunch of other heada** antisemitic comments.
Adidas took that action while the company worked out its issues with West during private arbitration. The judge granted adidas the order on order on an ex parte basis, not allowing him or his company a chance to respond.
Per Digital Music News:
“Petitioner has demonstrated that it has satisfied the grounds for an ex parte attachment because the court is satisfied that there is risk that Yeezy will remove or dissipate assets if notice of this request for attachment is given to Yeezy,” Judge Valerie E. Caproni writes in the November 11th order. Kanye West himself confirmed this on November 22, when he spoke to a celebrity news outlet announcing his 2024 presidential candidacy.
“The reason why I’m announcing that I’m running for president is I want the FCC to look at my money,” the rapper told the outlet last year. “If they actually see, I was looking at my money, and there might have been a possibility that Adidas wouldn’t have went into JP Morgan and froze my account and put a $75 million hold on four different accounts.”
“I went from being a multi-billionaire to not even being able to use my Apple Pay four nights ago. I couldn’t use my Apple Pay because somehow Adidas was able to legally go in and freeze my money, and when I see this, I think, well, if this could happen to me, this could happen to other Americans, and for what? You know this can happen to an American that didn’t even steal anything, that didn’t even hurt anyone. This could just happen to you for saying the wrong idea out loud.”
So Ye Wasn’t Talk Out The Side of His Mouth
West’s claims that his money was frozen were reported but never confirmed due to the sealed records. A judge ruled to unseal them earlier this month after the judge pointed out that Ye talking about them means they no longer need to be sealed.
West is currently locked in a legal battle with adidas on whether the freeze should still be on. The company has decided to sell the remaining stock of its YEEZY footwear, giving their cut of the profits to various charities, including the anti-defamation league.
Ye will receive 15% off all sales. He is also moving forward with his struggle fashion line, with him and his wife rocking some of the collection’s ridiculously looking pieces, including a new sock sneaker.
Photo: MEGA / Getty
The post Court Docs Reveals adidas Filed Legal Action To Freeze $75 Million In Assets Held By Kanye West’s YEEZY Brand appeared first on The Latest Hip-Hop News, Music and Media | Hip-Hop Wired.
Court Docs Reveals adidas Filed Legal Action To Freeze $75 Million In Assets Held By Kanye West’s YEEZY Brand was originally published on hiphopwired.com
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