Dame Dash’s attempt to take back Roc-A-Fella Records has hit a snag, following an order by a judge to him to sell his remaining shares to clear a six-figure debt incurred two years ago.
Radar Online reports that the Harlem hustler was instructed by United States Magistrate Judge, Robert W. Lehrburger, to sell his one-third ownership of the business to satisfy a judgment after he refused to pay a $823K judgment to movie producer, Josh Webber, for defamation and copyright infringement after a dispute over the 2016 movie, Dear Frank.
Despite years of tension among them, Jay-Z and fellow Roc-A-Fella boss, Kareem “Biggs” Burke objected to the auction of Dame’s shares, claiming that per the company’s by-laws, the Board of Directors are required to approve the sell-off.
However, Judge Lehrburger decided that Dash’s shares qualify as personal assets and can therefore be seized to pay his debts.
As part of a 15-paged decision, Lehrburger noted that “the question at the core of the instant dispute is whether the RAF By-Laws’ prohibition on transfer and sale of Dash’s one-third ownership interest in shares of RAF without the consent of RAF’s Board of Directors, legally prevents the sale of Dash’s interest in RAF to satisfy the judgment. The answer is no.”
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The judge went ahead to note that without jurisdiction to enforce a judgment entered by a federal court, the judicial power would be incomplete and entirely inadequate to the purposes for which it was conferred by the Constitution.
Following the original verdict, Dash took to Instagram to react.
In other news, Dash has called out Kevin Hart for refusing to support his ventures and explained that it forms part of the reason he refused to work on the 2004 film, Soul Plane.
