Bankruptcy

Three Film Companies Head Toward Auction

By mcbride

Bankruptcy Judge Russell, a senior member of the bench sitting in the Central District of California, has ordered that a couple of film companies should be auctioned.  As a result, 1,300 films could be sold. 

“Judge Barry Russell cited an ‘incredible willful failure’ to comply with the rules as part of his judgment, referencing his previous opinions that the debtors had stonewalled the court with delays.

‘It is clear to me that this will never come to an end,’ Russell said, adding that it appeared that delaying the court proceedings worked toward Bergstein’s advantage.

The involuntary bankruptcy began 11 months ago.”

Here is a link to this article: http://www.variety.com/article/VR1118031902?refCatId=4076&ref=related

Michael

Full post as published by Texas Lawyer Blog on February 11, 2011 (boomark / email).