YZY on the Up & Up: Judge Rules in Favor of YEEZY

In a recent development, it has been confirmed that Kanye West’s concerns about a freeze on his bank accounts were on point. Newly-unsealed court records have shed light on adidas’ previous attempt to freeze $75 million USD held by the YEEZY brand. There is good news for Kanye as Judge Valerie E. Caproni recently lifted the court order that allowed the freezing of three-quarters of a $100 million USD in the YEEZY brand’s bank accounts. The judge’s decision, as reported by Billboard, emphasized that adidas failed to provide the necessary confirmation against YEEZY in court, which is a legal requirement in the state of New York. The judge further pointed out that adidas did not give YEEZY a fair opportunity to challenge the freeze. This reversal relates to a case filed by adidas against YEEZY in November, where adidas sought the motion to freeze $75 million USD of assets to ensure the safety and preservation of funds during their high-profile separation.

Initially, adidas had been granted an “attachment” order on an ex parte basis, allowing for the asset freeze without giving YEEZY a chance to present a counterargument regarding the claim of potential asset removal or dissipation. However, the judge has now overturned this order and made the records public, stating that adidas’ failure to file a motion to confirm nullifies the attachment order. Consequently, the assets have been unfrozen.

This recent turn of events seems to vindicate Kanye West’s earlier concerns about the freeze on his accounts. The ruling underscores the importance of due process and fair legal proceedings, ensuring that both parties have an equal opportunity to present their arguments and defend their interests.

As the situation continues to unfold, it remains to be seen what impact this ruling will have on the ongoing adidas vs. YEEZY case and the future of the YEEZY brand. Nevertheless, this decision marks a significant step in favor of Kanye West and the YEEZY brand, providing them with the opportunity to navigate their financial matters with greater freedom and transparency.