Dame Dash‘s stake in Roc-A-Fella Records was recently auctioned off to satisfy a massive debt – but it wasn’t enough, so he may be seeing more of his assets hit the auction block in the near future.
As previously reported, Dame’s 33.3 percent interest in the famed record label was recently sold off at a public auction in an effort to collect the $823k he owes to movie producer Josh Webber for copyright infringement and defamation over the 2016 film, Dear Frank.
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However, he also owed $193k in back child support, and faced a lawsuit filed by photographer Monique Bunn, another by a writer named Edwyna Brooks and a whopping $8 million tax debt to the state of New York.
The winning $1 million bid for the shares was placed by an anonymous New York state government employee – and it covered the back child support, with the rest being put toward the back taxes. This means that the Dear Frank lawsuit wasn’t settled at all, and now the team behind it is looking to come for more.
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According to documents first spotted by AllHipHopand viewed by HipHopDX, Josh Webber and his lawyer Christopher Brown have filed a request seeking ownership documents from the embattled mogul and are hoping to get an order that forces Dame to deliver his media company Poppington, LLC and/or copyrights to films he produced to the United States Marshal.
A judge has yet to rule on the matter.
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Meanwhile, the potential value of Roc-A-Fella Records was a contentious point leading up to the auction.
In September, Dame accused JAY-Z of attempting to disrupt the auction.
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The City of New York requested a stay in the auction following comments made by Hov about the copyright ownership regarding his seminal debut album Reasonable Doubt.
Jay claimed that the copyright to the album reverts back to him in 2031, but the City alleged that was false — and deliberately damaging to the auction process.
The City has claimed that the album’s copyright will continue to be held by Roc-A-Fella until 2098 and have accused the label of not providing proof of royalties that the album generates.
Dame also hit out at his former business partner on Instagram, writing: “The State of NY has stepped in and filed the following to the courts…Jay-Z’s statements to the press have poisoned the environment for the auction. He has claimed that he has a termination right under the Copyright Act and that the rights to Reasonable Doubt will revert to him in six years.
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“In fact, he has no such termination right and RAF is entitled to the renewal term, which is now 67 years meaning it will own the copyright rights until the year 2098. In other words, the highest possible auction price could be more than ten times higher than is likely now, given Jay-Z’s and [Roc-A-Fella’s] actions. [Roc-A-Fella] is complicit by its inaction in pushing back against such false statements.”
