TVT Bankruptcy - Schedule of Assets
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OTCS: here to please...
TVT Bankruptcy Update – Schedules and Statements
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By order dated April 4, 2008 (Doc. No. 126), United States Bankruptcy Judge Allan Gropper granted TVT's (the debtor's) motion, pursuant to Bankruptcy Rule 1007, to further extend the time within which it must file its (A) Schedule of Assets and Liabilities, (B) Schedule of Executory Contracts and Unexpired Leases and (C) Statement of Financial Affairs.
The time within which the Debtor must file its Schedules of assets only is extended from April 4, 2008 to April 14, 2008, without prejudice to the Debtor’s right to seek further extensions of such deadline upon a showing of cause therefor.
The time within which the Debtor must file its remaining Schedules and Statements is extended from April 4, 2008 to April 18, 2008, without prejudice to the Debtor’s right to seek further extensions of such deadline upon a showing of cause therefor.
No further extensions will be granted except on a detailed showing of
extraordinary cause.
(Emphasis in the original.)
Note that the Court had previously extended the time (order dated March 7, 2008) to April 4th.
[TEEVEE Toons, Inc. dba TVT Records; filed 2/19/2008; Petition No. 08-10562 Gropper]
The time within which the Debtor must file its Schedules of assets only is extended from April 4, 2008 to April 14, 2008, without prejudice to the Debtor’s right to seek further extensions of such deadline upon a showing of cause therefor.
The time within which the Debtor must file its remaining Schedules and Statements is extended from April 4, 2008 to April 18, 2008, without prejudice to the Debtor’s right to seek further extensions of such deadline upon a showing of cause therefor.
No further extensions will be granted except on a detailed showing of
extraordinary cause.
(Emphasis in the original.)
Note that the Court had previously extended the time (order dated March 7, 2008) to April 4th.
[TEEVEE Toons, Inc. dba TVT Records; filed 2/19/2008; Petition No. 08-10562 Gropper]
TVT Bankruptcy: UPDATE of Unsecured Creditors
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TVT Records filed for bankruptcy on February 19, 2008. The following is a list of unsecured creditors in the bankruptcy proceeding pending in the US Bankruptcy Court, Southern District of New York (Manhattan):- The Harry Fox Agency $7,328,225.85(U) - Disputed
- Kaye Scholer LLP $4,736,810.00(U) - Disputed
- Slip N Slide Records Inc. $4,579,200.00(U) - Disputed
- TVT Funding LLC $1,205,592.00(U)
- Cinram Manufacturing $576,641.00(U)
- Labaton Sucharow & Rudoff LLP $412,685.66(U)
- Castle Rock Entertainment $379,341.72(U) - Disputed
- SKA Films Diamonds Ltd. $358,370.15(U) - Disputed
- Warner Strategic Marketing $219,999.67(U)
- Christopher Bridges aka Ludacris $200,000.00(U) - Disputed
- Dreamworks/Universal Media $180,174.52(U)
- EMI Music Publishing $176,654.03(U)
- Lemarquis Jefferson $171,000.00(U)
- Vagrant Records $155,167.97(U)
- American Express $144,106.85(U)
- Little Jonathan Properties $132,800.00(U) - Disputed
- Universal Music Publishing $131,566.31(U)
- Universal Music Corp. $124,409.09(U)
- Kings of Crunks Studios Inc. $123,405.58(U) - Disputed
- Warner Chappell Music $121,846.39(U)
[TEEVEE Toons, Inc. dba TVT Records dba TVT Soundtrax dba TVT Distribution dba TVT Jazz dba Blunt Records; filed 2/19/2008; Petition #: 08-10562 Gropper]
TVT Bankruptcy
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Billboard reports:
TVT Records, once hailed as Billboard's top independent label and home to artists such as Lil Jon, Pitbull and Ying Yang Twins, will file for Chapter 11 bankruptcy this week, company head Steve Gottlieb tells Billboard.com. "This is not the end of TVT," he insists.
Rolling Stone reports that the label fired the majority of their staff.
TVT Records, once hailed as Billboard's top independent label and home to artists such as Lil Jon, Pitbull and Ying Yang Twins, will file for Chapter 11 bankruptcy this week, company head Steve Gottlieb tells Billboard.com. "This is not the end of TVT," he insists.
Rolling Stone reports that the label fired the majority of their staff.
Cadillac Grills
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When Ludacris and Usher join forces, you know you're in about as much trouble as being caught in the middle of the former Jay-Z/Nas dispute. Mr. Bridges (pka Lud. appearing on Def Jam label) and Mr. Raymond IV (pka Usher appearing on La Face label) sued TVT Records, amongst others, in the Southern District of New York for "unlawful use" of plaintiffs' musical contributions to the recordings IN DA CLUB and LOVERS AND FRIENDS (i.e., copyright infringement).
What's going on here? OTCS suspects this could have been avoided by a mere sampling agreement early in the recording process. What's the word on the street?
[Christopher Bridges p.k.a. Ludacris; Usher Raymond IV p.k.a. Usher; Disturbing Tha Peace Entertainment Inc.; Fast Pace Inc. v. Teevee Toons Inc.; TVT Records LLC; BME Enterprises LLC; BME Recordings LLC; Jonathan Smith. 11/15/2007; 07 CV-10369]
What's going on here? OTCS suspects this could have been avoided by a mere sampling agreement early in the recording process. What's the word on the street?
[Christopher Bridges p.k.a. Ludacris; Usher Raymond IV p.k.a. Usher; Disturbing Tha Peace Entertainment Inc.; Fast Pace Inc. v. Teevee Toons Inc.; TVT Records LLC; BME Enterprises LLC; BME Recordings LLC; Jonathan Smith. 11/15/2007; 07 CV-10369]
