A New York judge delayed the auction for Dame Dash’s stake in Roc-A-Fella Records on Tuesday (August 27). The auction was previously scheduled for Thursday (August 29).
Dash owed money to multiple parties, who asked for more time to conduct the auction. Judge Robert Lehbruger granted the request, per court documents obtained by AllHipHop. The judge extended the timeline to September 21.
The Roc-A-Fella auction stemmed from Dash losing a lawsuit to director Josh Webber. Dash owed more than $800,000 to Webber. New York City, the New York State Department of Taxation and Finance and photographer Monique Bunn joined in Webber’s efforts to collect debts from Dash.
Webber, his lawyer Christopher Brown and the other parties agreed on the distribution of funds from Dash’s Roc-A-Fella stake on Monday (August 26). They also set a new minimum bid of $3 million.
“All the plaintiffs’ expenses relating to the auction will be taken off the top and repaid first, including all rescheduling expenses … estimated previous costs are $15,000.00 related to the auction,” the agreement read. “The commission due to the US Marshal will also come off the top.”
It continued, “NYC will receive an estimated $193, 877.57 with first priority. NYS will then be paid $1,702,626.34 for back taxes in second position; Webber and Muddy Water Pictures will have third position for approximately $823,000 in judgments plus interest; Intervenor Brown will receive approximately $70,000 plus interest in the fourth position; Intervenor Bunn will receive $12,000.00 plus interest in the fifth position; and NYS will receive approximately $7 million for the total balance in back taxes owed by Damon Dash in the sixth position.”
Dash will collect the remaining funds from the auction after paying his back taxes with interest. Billboard was the first to report the auction’s delay and minimum bid increase.