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.

N.Y. Assemblyman Introduces ‘Peanut’s Law,’ Says Investigation Request Ignored
N.Y. Assemblyman Introduces ‘Peanut’s Law,’ Says Investigation Request Ignored
‘B.M.F.’ Big Meech Gets Porcelain Veneers After Prison Bid
‘B.M.F.’ Big Meech Gets Porcelain Veneers After Prison Bid
How TV news anchors gear up for election night
How TV news anchors gear up for election night
NBA Reopens Jaxson Hayes Investigation After TMZ Video of 2021 Incident
NBA Reopens Jaxson Hayes Investigation After TMZ Video of 2021 Incident
Nothing Left to Prove: Quincy Jones (1933-2024) | Tributes
Nothing Left to Prove: Quincy Jones (1933-2024) | Tributes
Daryl Dixon – The Book of Carol Ending, Explained
Daryl Dixon – The Book of Carol Ending, Explained
Every TV Series Coming to Major Streaming Services in November 2024
Every TV Series Coming to Major Streaming Services in November 2024
The Unloved, Part 131: Dark City | MZS
The Unloved, Part 131: Dark City | MZS
I was crying at a certain point because I felt that I had hurt him
I was crying at a certain point because I felt that I had hurt him
Gina Zollman To Perform Her Show “ORI gina LS” At The Arthur Newman Theatre, Palm Desert, CA, Sunday 11/24/24
Gina Zollman To Perform Her Show “ORI gina LS” At The Arthur Newman Theatre, Palm Desert, CA, Sunday 11/24/24
Iggy Pop announces “landmark” 2025 London and Glasgow shows
Iggy Pop announces “landmark” 2025 London and Glasgow shows
Watch Fontaines D.C. sing Antonio Vega’s ‘Tesoros’ in Spanish in Madrid
Watch Fontaines D.C. sing Antonio Vega’s ‘Tesoros’ in Spanish in Madrid
The 3 Biggest Scandals in Sports History
The 3 Biggest Scandals in Sports History
Kiss918 on the Edge: Pushing the Boundaries of Digital Casino Innovation
Kiss918 on the Edge: Pushing the Boundaries of Digital Casino Innovation
Patriots’ Maye clears concussion protocol, will play vs. Titans
Patriots’ Maye clears concussion protocol, will play vs. Titans
Silver: NBA looking at ‘other formats’ for 2025 ASG
Silver: NBA looking at ‘other formats’ for 2025 ASG
The End Trailer Arrives for 2024’s Most Audacious Film
The End Trailer Arrives for 2024’s Most Audacious Film
Taylor Sheridan is Correct: Critics Have Become Irrelevant
Taylor Sheridan is Correct: Critics Have Become Irrelevant
Silence of the Lambs Influenced Daisy Ridley’s New Movie Magpie
Silence of the Lambs Influenced Daisy Ridley’s New Movie Magpie
Emilia Clarke’s ‘The Night Before Christmas in Wonderland’ Gets Release Date
Emilia Clarke’s ‘The Night Before Christmas in Wonderland’ Gets Release Date
Banana Republic’s Holiday Campaign, Burberry’s Stock Rises
Banana Republic’s Holiday Campaign, Burberry’s Stock Rises
The Best-Dressed Stars at LACMA Art + Film Gala 2024
The Best-Dressed Stars at LACMA Art + Film Gala 2024
Beauty Made In Italy Brings A Big Crowd To The West Hollywood EDITION Hotel
Beauty Made In Italy Brings A Big Crowd To The West Hollywood EDITION Hotel
The Best-Dressed Stars At The 2024 WSJ Innovator Awards
The Best-Dressed Stars At The 2024 WSJ Innovator Awards