Jay-Z wants to move the $2.5 billion dispute with Bacardi to Bermuda
The case between Jay-Z and Bacardi is experiencing a new twist with Jay-Z’s desire to relocate the trial to British territory.
In the case between Jay-Z and Bacardi, 2.5 billion dollars are at stake. This sum is colossal and all means are good for Jay-Z to gain the upper hand. AllHipHop came across documents on Thursday, January 5. According to the outlet, the Roc Nation boss wants to move the lawsuit so that it is dealt with in British territory.
According to reports, Jay-Z’s idea to transfer his lawsuit to Bermuda is because the company is headquartered there. In addition, certain legal provisions will allow the lawsuit to prosper. “SC is now preparing to bring legal action against Bacardi in Bermuda, where Bacardi is incorporated and headquartered (the Bermuda Action), for causing a breach of the Operating Agreement under Bermudian law ”, one can read. “In support of this proposed case, the Supreme Court seeks the Court’s assistance in obtaining relevant evidence from certain investors in Bacardi and/or its affiliates that fall within the jurisdiction of the Court.»
The dispute began when Jay-Z accused Bacardi of not being a transparent company in the management of their joint partnership.