The new CEO of Death Row Records has been granted a temporary restraining order against a Canadian financial company that helped fund the $18 million dollar purchase of Death Row Records out of bankruptcy court.
Wideawake Awake-Death Row CEO Lara Lavi was granted the restraining order against New Solutions Financial Corporation and its CEO Ron Ovenden today (November 19) by the New York Supreme Court.
Lavi was awarded the TRO based on claims that Ovenden and the company’s managing director were illegally diverting assets from the legendary record label.
“I’ve been very consistent in my message. I am determined to make Death Row about the artists, their music and their fans while staying grounded to ensure the company’s future. Thus, I am taking the necessary legal steps to ensure this outcome,” explained Death Row CEO and President Lara Lavi in a statement to AllHipHop.com.
On November 13, Lavi CEO of Death Row, filed a lawsuit against New Solutions, accusing the company of engage in fraudulent activities.
The temporary injunction will prevent New Solutions Financial from doing business on behalf of Death Row Records.
Death Row’s North American distribution partner E1 offered a strong showing of support in relation to the company’s dispute with New Solutions.
“E-1 signed its deal with Lara Lavi, the CEO, President and managing member of Wideawake Death Row Entertainment LLC on the strength of her vision, business sense and goodwill in the entertainment industry. I look forward to our continued working relationship,” said Rob Scarcello E-1’s SVP of Sales and Marketing.