Following a ruling in the new Zealand High Court, Kim Dotcom has been allowed to take out a bank loan which will allow him to cover some vital household expenses as the courtroom battle over his Megaupload internet site continues to hit the headlines.
Dotcom is expected to face extradition charges early next year, and is fighting hard to avoid being whisked over to the USA to face copyright infringement charges, which it's claimed have caused $175 million in damages. The war has already been waged for many months, and his plentiful assets were frozen since the beginning of 2012, when Megaupload was shut down. now Justice Judith Potter has unfrozen certain chunks of his holdings, and he'll be able to borrow $6 million to meet some pressing expenses.
Without access to his cash, Dotcom was unable to pay for the simple things in life. Which include NZ$2 million rent on his Auckland mansion. So not such a simple life then. He'll also be able to pay back some of the $2.7 million in legal fees already on the clock, and put another $2.5 million on account for legal fees to come. As was previously reported on RollOnFriday, the lawyer hours on this case are already impressively high.
Dotcom will also be able to sell some of his collection of nine cars to raise further cash, including five Mercedes and a Rolls Royce.
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Dotcom is expected to face extradition charges early next year, and is fighting hard to avoid being whisked over to the USA to face copyright infringement charges, which it's claimed have caused $175 million in damages. The war has already been waged for many months, and his plentiful assets were frozen since the beginning of 2012, when Megaupload was shut down. now Justice Judith Potter has unfrozen certain chunks of his holdings, and he'll be able to borrow $6 million to meet some pressing expenses.
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Kim Dotcom with some unfrozen assets |
Without access to his cash, Dotcom was unable to pay for the simple things in life. Which include NZ$2 million rent on his Auckland mansion. So not such a simple life then. He'll also be able to pay back some of the $2.7 million in legal fees already on the clock, and put another $2.5 million on account for legal fees to come. As was previously reported on RollOnFriday, the lawyer hours on this case are already impressively high.
Dotcom will also be able to sell some of his collection of nine cars to raise further cash, including five Mercedes and a Rolls Royce.