Ex-Rhythm & Hues Staffers Settle Lawsuit Over Firings

By | Friday September 27, 2013 @ 9:24pm PDT

The bankrupt effects house has reached a million-dollar settlement to end lawsuits filed against it by a pair of pink-slipped employees. Today’s LA Bankruptcy Court filing includes a proposed settlement of potential class action claims in which Anthony … Read More »

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VFX Firm Gravity Post Files For Chapter 11 But Not Shutting Down

By | Wednesday September 18, 2013 @ 4:27pm PDT

Gravity Post sought the shelter of Chapter 11 protection this week but the veteran VFX company isn’t going out of business. And, unlike other troubled VFX firms in recent months, no layoffs are planned either. … Read More »

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Former Digital Domain CEO & Auditors Sued For Fraud By Investors

By | Tuesday May 21, 2013 @ 5:21pm PDT

The fallout from Digital Domain Media Group’s bankruptcy continues with investors in the troubled special effects and 3D conversion firm taking the former CEO, the company’s auditors and other executives to court for fraud. Having lost millions in the James Cameron-founded company just before it went under last September, Iroquois Master Fund and Kingsbrook Opportunities Master Fund late last week filed a six claim complaint (read it here) against John Textor, his wife Deborah, various DDMG directors and auditors SingerLewak LLP. The plaintiffs are seeking compensatory damages as well as interest, legal fees and “such other and further relief as the Court may deem just and proper.” The complaint in New York State Supreme Court alleges common law fraud, aiding and abetting fraud, negligent misrepresentations and omissions, negligence, breach of the implied covenant of good faith and fair dealing and civil conspiracy. Read More »

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Fox Sports Asks Court To Dismiss Dodgers From Bankruptcy

By | Friday November 18, 2011 @ 8:48pm PST

Fox Sports has asked a federal bankruptcy court to dismiss the Dodgers from bankruptcy as the networks said it would earlier this week, the LA Times reported late Friday. Fox Sports said it is not necessary for … Read More »

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Dodgers Sue Fox Sports, Which Responds That It Will Ask Court To Dismiss Team From Bankruptcy

The Los Angeles Dodgers sued Fox Sports on Wednesday, accusing the News Corp-owned network of attempting to ”interfere with the sale of the Dodgers and their assets in bankruptcy.” The Dodgers’ goal is to sell the team and its valuable TV rights through separate court-sanctioned auctions to maximize returns. In a sharply worded court response filed Wednesday night Fox said it would ask that the Dodgers be dismissed from bankruptcy, according to the LA Times. Fox slammed Major League Baseball as “Prime Ticket’s former ally” and asserted the only reason Frank McCourt wants to auction the team’s TV rights now is to put “value rightfully belonging to Prime Ticket,in his own pocket” — referring to Fox Sports’ package of programming. The Dodgers’ suit was filed in U.S. Bankruptcy Court in Delaware, where Fox already has a suit pending against the team for alleged breach of contract in the continuing squabble over TV rights. Responding to the latest development, the Dodgers called Fox “obviously desperate” to prevent an auction that would reveal the “enormous value” of those rights and “lead to a record-smashing sale price for the team and benefit not just the Dodgers but all of baseball.” Read More »

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Los Angeles Dodgers Will Have New Owner After Frank McCourt Makes Deal To Sell

If Frank McCourt’s fight to remain owner of the Los Angeles Dodgers seemed long and arduous, it was — after all, he had to fight his ex-wife Jamie with one hand and baseball commissioner Bud Selig with the other. If … Read More »

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Final Chapter For Borders Bookstores

By | Monday July 18, 2011 @ 2:22pm PDT
Mike Fleming

The Wall Street Journal is reporting that Borders Group will liquidate after it received no offers to save its bankrupt bookstore chain. This is a real blow to the brick and border set–Borders was the second largest book chain … Read More »

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Dish Network Plans To Keep Some Blockbuster Stores Open

By | Monday April 18, 2011 @ 8:50pm PDT

Dish Network has revealed in filings with the U.S. Bankruptcy Court in New York that it will assume the leases on more than 500 Blockbuster stores, meaning the retailer will remain a bricks-and-mortar business at least in some capacity, the … Read More »

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RHI Reorganization Plan Is Approved

By | Tuesday March 29, 2011 @ 2:10pm PDT

RHI Entertainment, the made-for-TV movie developer/producer/distributor that filed for Chapter 11 in December, had its reorganization plan approved today in U.S. Bankruptcy Court. The company will emerge with its debt obligation reduced by more than $400 million; the rest will be paid to lien holders via newly issued stock among other arrangements. “This is … Read More »

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