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.
