BPI Chief Executive Geoff Taylor said...
"CD Wow has been undermining the legitimate businesses of UK retailers and record companies by continuing to import CDs and music DVDs illegally from Asia, despite having given court undertakings that it would stop doing so.The BPI has already begun taking steps to enforce the damages award, having obtained a freezing order on the retailer's Hong Kong bank accounts and assets. It is recognized that enforcement of the award will be time-consuming and complex given that the company's assets are located in a number of jurisdictions.
Illegal imports of this kind undermine the huge investments made by businesses here in homegrown musical talent. This ruling illustrates the lengths that the rogue retailer went to flout the law and maximize its profits at the expense of British musicians and record companies supporting them. CD Wow is no consumer champion; it is a rogue trader that now has to face the consequences of its actions.
We have an extremely competitive record industry and retail sector here in the UK, and at an average price of around £8.50, CDs are better value than ever.The vibrancy of British music depends on a fair return on the investments that allow British talent to shine. This decision is an important step in ensuring that British music has a bright future."
CD WOW! will appeal the decision.
Source:
Press Release
Written by: James Delahunty @ 29 May 2007 18:42
