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ExtraTorrent.cc > Articles > Dotcom Can’t Hide His Assets from Hollywood

Dotcom Can’t Hide His Assets from Hollywood

Dotcom Can’t Hide His Assets from Hollywood

Added: Saturday, September 6th, 2014
Category: Recent Headlines Involving File Sharing > Ridiculous Criminal Trials
Tags:ET, p2p, Torrent, Piracy, Peer To Peer, Network, Hackers, Internet, BitTorrent, Google, utorrent, bitcomet, extratorrent, 2013, www.extratorrent.cc
Kim Dotcom has recently lost his appeal to keep the assets that belong to him hidden from Hollywood. The Court ordered the MegaUpload founder to disclose information to Hollywood lawyers, who would be able to further share the information only under the permission of the court

The movie industry is still engaged in a huge battle with Kim Dotcom and thinks that legal action currently underway against him could help it receive a sizable damages award. This is why cinema studios worry so much about Dotcom’s lavish lifestyle. The more Dotcom spends, the less the plaintiffs could receive should the money begin to run out.

Dotcom filed an appeal which is scheduled to be heard in October, but that date is beyond the ordered disclosure date. This is why MegaUpload founder had to take his case to the Court of Appeal in the hope of staying the disclosure order. However, his bid has failed. His lawyers argued that their client’s October appeal would be rendered pointless if he already handed over financial information. They also argued that a stay shouldn’t negatively affect the plaintiffs, because millions in Dotcom’s assets are currently restrained in New Zealand and elsewhere.

But the Court of Appeal refused, saying that although Dotcom’s appeal would be rendered pointless by October, this would have no effect on Kim. The Court also rejected the arguments of Kim’s legal team that the disclosure of financial matters threatens privacy and equals to an “unreasonable search”.

The Court also took a look at potential damages in the legal action of the movie industry against the Dotcom. While MegaUpload founder’s expert estimates damages below $10 million, the plaintiffs count on more than $100 million. According to the Court, Kim Dotcom has now revealed that his personal assets restrained in two countries are together worth about $30 million. However, all of them are subject to a potential claim from his estranged wife, Mona. This is why the Court judged Dotcom’s assets to be twice less.

In other words, the Court agreed that there was an arguable case that eventual damages would be more than the currently restrained assets. This is why the MegaUpload founder is still ordered to hand the details of his financial assets, “wherever they are located” to Hollywood. By the way, aside from Dotcom’s personal assets subjected to restraining order, assets owned by MegaUpload and Vestor Limited are also frozen in Hong Kong.

Thanks to TorrentFreak for providing the source of the article.

Posted by:  SuperAdmin
Date:  Saturday, September 6th, 2014

Comments (10) (please add your comment »)

posted by (2014-09-06 03:58:39)
bubfred72 avatarYou can`t out run the long arms of the Hollywood!

posted by Kitty (2014-09-06 05:08:21)
Crash1 avatarAH! But the ruling only states he must "disclose" his financial information to "Hollywood lawyers". There's no stipulation on what FORM that disclosure must be in.
There's nothing stopping him from having his financial records PRINTED OUT (in Long Format), and requesting to PHYSICALLY HAND OVER (person-to-person) the paperwork to the lawyer (at which point he's MET his legal obligation).
He could ALSO petition the court to ensure any such hard-copy information is kept IN THE COUNTRY, which would REALLY piss off Hollywood if it was accepted, as they'd have to have the lawyers pore through the paperwork overseas, instead of in their home offices.
Or even BETTER ... copyright the financial documents, and only provide ONE copy, so the lawyers wouldn't legally be able to copy or scan it and would only have ONE set of papers to work from.

There are MANY different ways he could screw with the Hollywood studios if he REALLY wanted.

posted by (2014-09-06 09:29:19)
Faceless42001 avatarCrash1 maybe you should give Kim an email.

posted by (2014-09-06 15:51:13)
KingTubby avataryep... p*ss those lawyers off! go for it i would like to see that...

posted by (2014-09-06 21:29:55)
Rockman avatarWould be wonderful to first copyright the docs then only hand over 1 copy to Hollywood in the longest form possible . .

While spending the monies faster .

posted by Kitty (2014-09-07 03:45:30)
Crash1 avatarOh, forgot to mention! Real estate in foreign nations is NOT susceptible to search or seizure from any nation EXCEPT the residing nation (which is why the NZ police had to give back his property for illegal search and seizure, and why they got in so much shit for allowing the US government to take data off shore without authorisation).
If I was him, I'd start buying property in foreign (Non US controlled) nations/states (eg, Puerto Rico is OUT, since it's now a US territory.)

He could also do what many US companies have done, and hand all his data to his lawyers for safekeeping, at which client/lawyer confidentially laws would come into effect and protect the data from seizure. (the US lawyers COULDN'T complain about this, as it's what THEY do as well.)

As I said ... There are MANY, MANY different ways to complete a task with the maximum amount of delays possible (just ask any construction worker).

HERE'S a NASTY idea ... print the documents on FLASH PAPER (nitrated 100% cotton paper). If it got anywhere NEAR a cigarette or naked flame it would VANISH. (It would ALSO make it ILLEGAL to transport the docs by aircraft, since International Air Transport laws prohibit transport on commercial/charter aircraft [PRIVATE aircraft are exempt].) [Got the idea from a friend who's an amateur magician. He just took a delivery of 50 Flash Paper sheets that are A4 size (he printed on them with an inkjet printer no problem. he was THINKING about trying a laser printer, but the temperatures in the printer were dangerously close to the ignition point of the paper)]

posted by ET babySite FriendET junkieET loverGirlSun (2014-09-07 08:42:43)
cosmiclsd avatarhuum,interstN??!!.don't anything bout this guy or Megaupload..but one fact is:Dotcom n others,obviously made
lots o "moola"!..bet sum o those HWood flunkies ,now cryn 4 blood, skimmD sum o that cash.no way Megaupload could've amassD those 'mills" n the time that the company has been 'round wit out them knowiN or underhandedly sanctioning Mega's operation..great post @Ozi n thx 2 me fellow members 4 yo comments..btw,@Crash1 u shud send a resume 2 one o the Corp-Scumz "Think Tanks"....off 2 google sum nfo bout Megaupld.....

posted by (2014-09-08 22:40:55)
No avatarPure Hollywood greed!As if they don't make enough money charging those outragous prices to see a movie........

posted by (2014-09-10 14:55:35)
No avatarRidiculous. Why should they be entitled to any sort of financial discovery regarding his assets before they even prove their case? Moreover, US courts have no authority to seize assets located outside of the US in a civil case. The whole case is BS. MegaUpload was nothing more than a modern copying machine. You can't sue Xerox for someone copying a copyrighted book on one of their machines, even though the copying machine "facilitated" the copyright infringement. Typical case of Congress being bought off by Hollywood to hold back technological advances. Does anyone remember when the movie industry sued to stop the sale of VHS player/recorders? VHS tapes ended up saving their asses and letting them make money of movies too shitty for the theaters . . .

posted by (2014-09-10 19:32:27)
Feniantwo avatarIt's all about money, and not freedom, rights, or fairness. He's no different to them, in reality.

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