As reported by VIBE, the ongoing saga surrounding Damon Dash's impending auction of his share in Roc-A-Fella Records and JAY-Z's Reasonable Doubt album is growing increasingly complex.
In the latest twist to the proposed sale, the City of New York has intervened, with a lawyer alleging that JAY-Z has taken steps to diminish potential bids for Dash's share by withholding crucial paperwork necessary for its valuation.
In a filing addressed to United States Magistrate Judge Robert W. Lehrburge, the City of New York, represented by the NYC Department of Social Services (NYCDSS), has requested a halt to Dash's auction and a pre-motion conference in light of damaging allegations made by JAY-Z concerning Dash's stake.
"JAY-Z has issued widely publicized statements warning potential bidders that copyright ownership will revert back to him in 2031," wrote Gerald E. Singleton, the attorney representing the City, in a letter to Judge Lehrburger.
Singleton's accusation is a response to JAY-Z's motion to claim ownership of the master recordings of his debut album, Reasonable Doubt, filed in August, a move that garnered widespread media attention.
According to JAY-Z's filing, ownership of Reasonable Doubt's master recordings would revert back to him in 2031, implying that a potential buyer would only possess ownership of the album for roughly six years, thereby reducing the perceived value of Dash's share.
However, Singleton has discredited JAY-Z's claims, which he argues conflict with the City of New York's interest in receiving payment to address Dash's various debts.
"Those statements are false and extremely damaging to the City's interests in ensuring that the auction will generate sufficient funds to satisfy all existing child support arrearages and secure future child support payments," stated Singleton.
Singleton has also alleged that JAY-Z withheld information regarding Reasonable Doubt royalties, despite being subpoenaed to do so. According to the attorney, and Dash himself, such documents could significantly affect the valuation of the executive's share and increase potential bids for ownership.
"The auction should be conducted in a manner that will bring the highest price for the benefit of affected judgment creditors," Singleton emphasized in the filing. He pointed out that JAY-Z's contract with Roc-A-Fella explicitly lists Reasonable Doubt as a "work made for hire," granting Dash and the label copyright ownership until 2098.
The auction for Dash's share in Reasonable Doubt and Roc-A-Fella Records was initially set for Aug. 29, with bids opening at $1.2 million and a $240,000 deposit required.
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