Adidas denied request to re-freeze $75 million in Kanye West’s Yeezy accounts – Music News

Adidas denied request to re-freeze $75 million in Kanye West’s Yeezy accounts – Music News

Adidas executives have been denied their request to re-freeze $75 million (£61 million) held by Kanye West’s Yeezy brand.

Earlier in May, executives at the German sportswear giant asked a New York federal court to upload its freeze on $75 million in accounts belonging to West’s Yeezy as it pursues arbitration over the termination of the brands’ lucrative partnership last year.

According to court documents obtained by Billboard, a Manhattan federal judge ruled on Tuesday that Adidas would not be granted their re-freeze request.

The emergency order request claimed that Adidas would suffer “irreparable harm” if Yeezy was able to move the money, but the judge ruled, “It is hereby ordered that… Adidas’s motion for a TRO (temporary restraining order) is denied.”

Adidas could still win a conventional asset freeze order, despite losing the emergency request. Both sides have been set to file briefs on the request by 1 June.

Last October, Adidas severed business ties with West after he made a series of antisemitic remarks on social media and in interviews.

“Adidas does not tolerate antisemitism and any other sort of hate speech,” they said at the time. “Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness.”

In November, the Stronger rapper told X17 that Adidas had frozen $75 million of his money across different bank 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 someone how Adidas was able to legally go in and freeze my money,” he alleged.

You can view the original article HERE.

Jason Kelce Autograph Seeker Goes Berserk On Ex-NFLer, ‘You P***y, F*** You!’
Jason Kelce Autograph Seeker Goes Berserk On Ex-NFLer, ‘You P***y, F*** You!’
Diddy Claims Prosecutors Showed Judge Edited Cassie Video to Make Him Look Dangerous
Diddy Claims Prosecutors Showed Judge Edited Cassie Video to Make Him Look Dangerous
Kacey Musgraves, Lainey Wilson, Luke Bryan and more step out in style to celebrate country music’s biggest night
Kacey Musgraves, Lainey Wilson, Luke Bryan and more step out in style to celebrate country music’s biggest night
Kim Zolciak, Kroy Biermann Told by Cops to Stay Away From Each Other
Kim Zolciak, Kroy Biermann Told by Cops to Stay Away From Each Other
Billy Bob Thornton Thought ‘Bad Santa’ Would End His Career
Billy Bob Thornton Thought ‘Bad Santa’ Would End His Career
Black Harvest Film Festival 2024: Disco Afrika, It Was All a Dream, Dreams Like Paper Boats | Festivals & Awards
Black Harvest Film Festival 2024: Disco Afrika, It Was All a Dream, Dreams Like Paper Boats | Festivals & Awards
Dawsons Creek Had a Perfect Spin-Off, But No One Watched It
Dawsons Creek Had a Perfect Spin-Off, But No One Watched It
'Bad Sisters' Exclusive Clip – Wednesday November 20th Episode
'Bad Sisters' Exclusive Clip – Wednesday November 20th Episode
Banks announces fifth album ‘Off With Her Head’ with impassioned new single ‘Best Friends’
Banks announces fifth album ‘Off With Her Head’ with impassioned new single ‘Best Friends’
Jelly Roll on his battle with food addiction: “It’s like an avalanche”
Jelly Roll on his battle with food addiction: “It’s like an avalanche”
Here’s every song on the ‘Cruel Intentions’ TV series soundtrack
Here’s every song on the ‘Cruel Intentions’ TV series soundtrack
Zayn Reunites With One Direction at Liam Payne’s Painful Funeral
Zayn Reunites With One Direction at Liam Payne’s Painful Funeral
Report: Raiders owner Davis agrees to sell 15% of team
Report: Raiders owner Davis agrees to sell 15% of team
Fun and Frugal DIY Christmas Ornaments
Fun and Frugal DIY Christmas Ornaments
Draymond fires back at ‘janky’ Jenkins, Edey over foul
Draymond fires back at ‘janky’ Jenkins, Edey over foul
Skenes’ rookie award traps Pirates in uncomfortable situation
Skenes’ rookie award traps Pirates in uncomfortable situation
‘Based on a True Story’ Season 2 Has a Matt Problem
‘Based on a True Story’ Season 2 Has a Matt Problem
‘Gladiator 2’ Director Explains Why the Twin Emperors Are “So F**King Crazy”
‘Gladiator 2’ Director Explains Why the Twin Emperors Are “So F**King Crazy”
Chicago PD Season 12 Episode 8 Review: Torres’ Guilt & Reid’s Mysterious Agenda Result in Tense Midseason Finale!
Chicago PD Season 12 Episode 8 Review: Torres’ Guilt & Reid’s Mysterious Agenda Result in Tense Midseason Finale!
The Untold Story’ Trailer Unearths the Dark Crimes Behind the Scenes
The Untold Story’ Trailer Unearths the Dark Crimes Behind the Scenes
Hearst Layoffs, Selena Gomez Covers Perfect Magazine, & More!
Hearst Layoffs, Selena Gomez Covers Perfect Magazine, & More!
The Best Fashion and Grooming Men’s Gifts
The Best Fashion and Grooming Men’s Gifts
Miley Cyrus For Harper’s Bazaar, Louis Vuitton Taps Callum Turner, & More!
Miley Cyrus For Harper’s Bazaar, Louis Vuitton Taps Callum Turner, & More!
Meredith Marks Loves Caviar, Jewelry, & Being On Time!
Meredith Marks Loves Caviar, Jewelry, & Being On Time!