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Kim Dotcom assets back in court

By | Published on Thursday 31 July 2014

Kim Dotcom

So, the assets of MegaUpload founder Kim Dotcom were being discussed in court again this week, on two separate levels.

First up, as previously reported, both the US authorities and the American music and movie industries have called for assets seized from Dotcom when his MegaUpload enterprise was shutdown by the feds in 2012 to remain frozen.

Dotcom is, of course, accused of enabling rampant copyright infringement by running MegaUpload, and is facing both criminal and civil action as a result. However, attempts by the US to extradite the Mega founder have been long drawn out, and a court in New Zealand earlier this year said that assets seized back in 2012 should now be returned; Dotcom’s lawyers say their client needs access to that money to help fund his defence.

Needless to say, prosecutors in New Zealand acting for the Americans have appealed that decision, while the record companies and movie studios also want the frozen assets to remain so, because they are suing for damages for the alleged copyright infringement, and want to make sure there’s plenty of former Mega money available for them to receive should they prevail in that litigation.

A court considered the appeal this week, though is yet to reach a decision. Meanwhile a separate conversation was had about the monies Dotcom does have access to, with some questioning how the Mega chief can afford to continue to live a seemingly lavish lifestyle while pumping money into new business ventures and political causes.

To that end Dotcom’s enemies reckon the Mega chief is accessing assets from his former business that were hidden from the authorities, and a New Zealand judge has now demanded he account for all his assets “wherever they are located” by 20 Aug. For his part, Dotcom insists the money he is currently spending comes from business ventures outside and subsequent to MegaUpload.

Finally, in Mega news, back in the US a court has agreed to postpone the civil litigation against Dotcom from the major labels and movie studios until at least 1 Apr 2015, now that we know an extradition hearing regarding the criminal proceedings against him won’t happen until at least next year. Team Dotcom don’t want any civil litigation reaching court until any criminal action has run its course.