Source: Courtesy of Damon Dash / Damon Dash
Just a week ago it was reported that Dame Dash was about to sell his stake in Jay-Z’s classic debut album, Reasonable Doubt. But now, it seems like Dash will be forced to sell much more than he originally intended.
According to TMZ, a court has just ruled that Dame Dash will have to sell his entire share of Roc-A-Fella Records as his money woes continue to pile up. According to the report, Dash will have his 33.3% in the iconic record label auctioned off by a U.S. Marshall on Aug. 29. For serious bidders who plan on getting in on the action, they’ll have to send an email to attorney Christopher Brown in order to register for the upcoming event.
Naturally, the biggest gem here is Dash’s share of Reasonable Doubt. With rumors having swirled that Jay-Z had been trying to get that back from Dame for a while now, we wouldn’t be surprised if a representative for Hova ends up with the winning bid for Dame’s share of Roc-A-Fella Records.
TMZ reports:
Brown, as you may know, represents film director Josh Webber, who secured an $800K-plus civil judgment against Dash for copyright infringement and defamation two years ago.
Webber and Muddy Water Pictures produced “Dear Frank” and filed suit against Dash after claiming he went around and told people he owned the rights to the movie even after he was dropped from the project.
The court docs specify the purpose of the auction is to collect on the judgment. The docs also note Jay Z’s album “Reasonable Doubt” is the biggest asset Roc-A-Fella owns.
It will be quite the pricey entrance fee for anyone interested in the auction as the starting bid will be $1.2 million, with the winning bid having to put down 20% of the final tally as soon as the auction ends. We all know that’s pocket change to someone like Jay. Just sayin’.
What do y’all think of Dame Dash’s latest legal setback? Let us know in the comments section below.
