| In SDNY
adidas Is
Denied Order
Freezing Ye
Accounts in
Chase Still
Seeks Yeezy
Attachment
by
Matthew Russell Lee, Patreon Book
Substack
SDNY COURTHOUSE,
May 30 – Amid sealed court
filings, on May 30 there was a
hearing on adidas' request to
freeze and retake $75 million
from Ye / Yeezy, held in JPM
Chase Bank - which, it
emerged, is closing Yeezy's
accounts.
Inner City Press
was there.
The
proceeding was held before
U.S. District Court for the
Southern District of New York
Judge Valerie E. Caproni -
who, seeing Press in the
gallery, told the parties to
think about unsealing the
filings. We'll stay on
that.
Debevoise &
Plimpton argued that the money
adidas transfered to Ye's
accounts was still its. Judge
Caproni said that Debevoice
knew better, and could have
drafted differently.
After
taking a brief break, she
denied adidas' motion for a
Temporary Restraining Order.
adidas declined to withdraw
its request for attachment. So
filings are due over the
coming day. Inner City Press
will stay on these - and the
necessary unsealing.
More on Substack
here
The case is In
the matter of Application of
Adidas AG for an Order of
Attachment in Aid of
Arbitration, 22-mc-320
(Caproni)
***
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