Kim Gets Some Money To Pay His Lawyers

August 30, 2012 by
Filed under: Announcements & Events, Legal P2P News & Issues 

Yesterday Kim Dotcom convinced the High Court residing his case to unfreeze some of his assets in order to pay his lawyers. As such, $6 million were granted to pay his legal fees and living costs.

Yesterday he tweeted:

“BREAKING NEWS: The High Court just ruled the release of restrained assets to cover our legal fees in New Zealand.”

The funds are to be secured against a $10 million Government bond.

The High Court also granted Kim to sell some of his previously confiscated luxury cars. The amount of cash Kim owes to his lawyers sums up to $2.6 million, but the figure is expected to go up quickly as his trial goes on.

As for his living costs, Kim’s family of seven requires at least $1 million a year to pay the rent for their estate (valued for about $30 million). Last but not least, the court earlier allowed Kim to have access to $750.000.
On his official website (www.kim.com), he said that when Megaupload was shut down “defendants’ assets” were frozen “leaving no funds to defend a hugely complex case involving petabytes of potential evidence, an untold number of witnesses and a business that spanned the globe”.

“The plan of the US government and New Zealand prosecutors to keep us locked up and from access to a proper legal defense has failed,” he said in an e-mail to Reuters.

“We have a competent legal team that can now operate at full capacity to defend us.”

Just for the fun of it, Dotcom owns a staggering number of 15 cars, among which we find names like a 1959’s Cadillac, a 2008 Rolls Royce Coupe, and a Mercedes E500. As soon as he sells them, the court must decide on how the cash is used.

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