Adidas executives' plea to re-freeze $75 million (£61 million) held by Kanye West's Yeezy company was turned down.
As it pursues arbitration over the end of the two companies' profitable relationship last year, executives at the German sportswear company earlier in May sought a New York federal court to lift its freeze on $75 million in accounts belonging to West's Yeezy.
According to court records obtained by Billboard, a federal judge in Manhattan decided on Tuesday that Adidas' motion to refreeze the account would not be allowed.
Adidas was alleged to suffer "irreparable harm" in the emergency order request if Yeezy was able to shift the funds, but the judge had Adidas's motion for a TRO (temporary restraining order) denied.
Despite losing the emergency request, Adidas can still succeed in obtaining a traditional asset freezing order.
Briefs on the request must be submitted by June 1 from both sides. Adidas broke up business relations with West in October of last year after he made a number of antisemitic comments in interviews and on social media.
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At the time, they declared that Adidas does not tolerate antisemitism and any other kind of hate speech.
Ye has recently made remarks and taken acts that are undesirable, dangerous, and against the company's principles of inclusiveness, respect, and fairness.
He revealed to X17 in November that Adidas had frozen $75 million of his funds across various bank accounts.
He even aroused the sympathy of some by saying he went from being a multi-billionaire to being unable to even use his Apple Pay.
Whether the small win by Kanye West means he's making a big comeback remains to be seen. But it could be.
What more, on May 31, New York drill rapper Fivio Foreign dropped the eight-song, "Without Warning" mixtape as a surprise. It was accompanied by a 15-minute mini-documentary. Without Warning, his first release since his July 2022 debut album B.I.B.L.E., features a joint effort with Kanye West on the album's third song, "Concussion."
This might be the sign!
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