Sharman Asset Freeze Story Wrong

By Jon Newton 3/6/05

Wired News says the Big Music cartel was able get a court order freezing the assets of Sharman Networks, owner of the fading Kazaa p2p application, as well as associates Altnet and Brilliant Digital Entertainment.

But, “A court refused today [March 4] to grant a request by the Australian recording industry to force owners of the file-swapping giant Kazaa to disclose their assets pending a decision in a landmark music piracy case,” says the Associated Press.


Jon Newton

Cartel lawyer Tony Bannon said he filed for the order, “after learning late last month that the chief executive of Altnet, one of the companies the recording industry claims is behind Kazaa, sold half of his multimillion dollar harborside Sydney mansion to his wife last September,” says the AP report. “The executive, Kevin Bermeister, and his wife, Beverley, continue to live together in the house, Bannon alleged.

“The recording industry also was concerned about reports that Kazaa chief executive Nikki Hemming sold a luxurious mansion to the company's accountant, John Meyers, last month.”

Sharman Networks lawyer Mary Still is quoted as saying the company and its directors have agreed not to dispose of assets other than daily expenditures but were under "no legal obligation" to disclose them.

" ‘That only comes about once they (the recording companies) have won these proceedings," Still said by telephone, states AP, but she added, "The record industry has never won this argument anywhere in the world."

 

Jon Newton is the editor of p2pnet.net and is a regular contributer to MP3 Newswire. Jon's site is devoted to the politics of digital music and his insights as well as those of his co-writers can be read there. We urge you to explore it.

 


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