A court has refused the Australian music industry's move to freeze the assets of KaZaA and its parent company, Sharman Networks.
The move to freeze the assets came earlier last week, after the industry reportedly learned KaZaA partner AltNet executive Kevin Bermeister and his wife, Beverley, sold their multimillion dollar harborside mansion last fall but continued living there.
Attorney Tony Bannon also said his music industry clients became alarmed when KaZaA chief executive Nikki Hemming sold a luxury mansion to Sharman accountant John Meyers in February.
The Australian recording industry is suing KaZaA and Sharman for copyright infringement over the millions if not billions of music files swapped monthly over the world-popular peer-to-peer program. If the music industry prevails, a trial to determine damages could begin later this year.
The industry wanted KaZaA owners to disclose all assets and not sell or transfer them any longer. Sharman attorney Mary Still told Australian news media that the company and directors agreed not to dispose of assets other than daily expenses, but had no legal obligation to disclose them until or unless the music industry wins in court.
