Court takes assets from Horie’s home

Kyodo News

The Tokyo District Court on Wednesday confiscated several items from the home of former Livedoor Co. President Takafumi Horie in connection with a lawsuit filed against him and fellow executives over a window-dressing case involving the once high-flying Internet venture.

The items seized at the upscale Roppongi Hills complex in Tokyo included a television set, a shamisen, golf clubs and a wine storage unit, according to a lawyer for the plaintiffs. The items are worth ¥330,000 and will be put up for auction on April 7, with the proceeds to be distributed to plaintiffs, including individual shareholders.

“I’m outraged by what was done forcibly by the court in a manner that appears to be nothing but harassment,” Horie said on his blog. “I’m planning to file for a suspension of the auction.”

The action was based on a ruling the court issued last May ordering Horie and other former Livedoor executives to pay ¥7.63 billion in compensation to around 3,300 shareholders.