Daily Archives: September 21, 2019

Dive Brief:

Charming Charlie's IP sale is a reminder that there is still value in the brand of a defunct retailer. Peress said in court papers that Hilco had contact with nearly 500 potential buyers of Charming Charlie's assets. Ultimately, 13 interested potential buyers signed non-disclosure agreements and five submitted bids ahead of deadline. The opening bid was $200,000.

All of the women's apparel and accessories retailer's stores are now closed, Peress noted in court papers, and its e-commerce site currently notifies customers that it is not taking orders but to keep checking back. Included in the sale along with trademarks and typical brand signifiers are hordes of data from Charming Charlie's mailing lists and loyalty program.

The IP of retailers that have wound down can still fetch big dollars in bankruptcies. Some examples from the current period of retail consolidation:

The sales represent the range of potential buyers that go bargain shopping at retailer fire sales, among them brand-holding companies, rivals and investors. In Charming Charlie's case, the man who created the retailer's brand known for its color-coded merchandising scheme came back to fetch it out of bankruptcy.

It's not clear yet what he'll do with it, but the options are several. Some retail brands end up on product labels, some reemerge as online-only players and a fair number come back with physical footprints. In that latter category recently are Toys R Us, Bon-Ton, Charlotte Russe and H.H. Gregg. In every case, the resurrected physical footprints are modest, very modest even, relative to those that were liquidated.

However, the money and effort involved are reminders that retailers fail for all kinds of reasons and ultimately because of a mismatch between expenses and sales in a given moment in time but failure doesn't mean that those brands have zero value. What's left may be greatly diminished, but it's still often a better deal than building a brand from scratch.

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Charming Charlie IP sold for $1.1M in bankruptcy - Retail Dive

BUFFALO, N.Y. (WIVB) Bishop Malone says hes close to making a decision on whether the Buffalo Diocese will file for bankruptcy but he says hes not there yet.

Today on WBEN Radio, the bishop spoke about the decision to either litigate cases filed under the Child Victims Act or file for Chapter 11 bankruptcy.

The bishop says there have been 138 cases filed against the diocese so far. He expects for there to be around 250 to 275 cases filed under the Child Victims Act.

Although the bishop is not tipping his hand yet, he did say that bankruptcy could be better for the victims of clergy sex abuse.

The best argument for Chapter 11 is that it truly is the best balance of justice for the victims. Im told when you litigate these cases, whether they are litigated or whether they are settled, then some of the first ones to come through will be huge, huge amounts which will pretty much eat up all the resources so that all the victims down the line may get very little or nothing, Malone said.

Malone said the decision on whether to file for bankruptcy will not be made in the next few days.

Last week the Rochester Catholic Diocese filed for Chapter 11 bankruptcy.

They are the first catholic diocese in new york state to do so.

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Bishop says bankruptcy could be best balance of justice for sex abuse victims - WIVB.com - News 4

Students at Union Theological Seminary prayed to a display of plants set up in the chapel of the school, prompting the institution to issue a statement explaining the practice as many on social media mocked them.

"Today in chapel, we confessed to plants," the nation's oldest independent seminary declared Tuesday on Twitter. "Together, we held our grief, joy, regret, hope, guilt and sorrow in prayer; offering them to the beings who sustain us but whose gift we too often fail to honor. What do you confess to the plants in your life?"

The ceremony, which is part of professor Claudio Carvalhaes class Extractivism: A Ritual/Liturgical Response, drew ridicule from many on Twitter, some of whom accused the seminary and students of having lost their minds.

In response, the seminary's Twitter account began retweeting users who defended the ritual and also issued a statement spanning a lengthy 10-tweet thread.

"We've had many questions about yesterday's chapel," the statement read in part. "In worship, our community confessed the harm we've done to plants, speaking directly in repentance. This is a beautiful ritual."

"We are in the throes of a climate emergency, a crisis created by humanity's arrogance, our disregard for Creation," the statement continued. "Far too often, we see the natural world only as resources to be extracted for our use, not divinely created in their own rightworthy of honor, thanks and care. We need to unlearn habits of sin and death. And part of that work must be building new bridges to the natural world. And that means creating new spiritual and intellectual frameworks by which we understand and relate to the plants and animals with whom we share the planet."

Encouraging churches to turn from "theologies that encourage humans to dominate and master the Earth," Union asserted that "we must birth new theology, new liturgy to heal and sow, replacing ones that reap and destroy."

"No one would have blinked if our chapel featured students apologizing to each other," the statement went on. "What's different (and the source of so much derision) is that we're treating plants as fully created beings, divine Creation in its own rightnot just something to be consumed. Because plants aren't capable of verbal response, does that mean we shouldn't engage with them? So, if you're poking fun, we'd ask only that you also spend a couple moments asking: Do I treat plants and animals as divinely created beings?"

Confessing to the plants was "just one expression of worship here at Union," a spokesperson for the seminary told the Washington Examiner. "Union Theological Seminary is grounded in the Christian tradition, and at the same time deeply committed to inter-religious engagement. Unions daily chapel is, by design, a place where people from all the wondrous faith traditions at Union can express their beliefs. And, given the incredible diversity of our community, that means worship looks different every day!"

"One day, you may come in to find a traditional Anglican communion, another day you may enter into a service of Buddhist meditation or Muslim prayer," the spokesperson continued. "Another, you may find a Pentecostal praise service or a silent Quaker meeting. We create a home where people can worship side by side, in traditions similar to and very different to their own. Through this process, we learn from our neighbors and discern our own faith more deeply."

Affiliated with neighboring Columbia University in Upper Manhattan, Union became the nation's first independent seminary in 1893 when it sundered from the Presbyterian Church after the denomination tried to oust one of its professors for claiming the Bible is not inspired by God, among other things.

German pastor and anti-Nazi dissident Dietrich Bonhoeffer was among the school's more famous alumni, who left after escaping the Third Reich to teach there briefly in 1939. Appalled by the liberalism of its students, Bonhoeffer wrote they "are completely clueless with respect to what dogmatics is really about. They are not familiar with even the most basic questions. They become intoxicated with liberal and humanistic phrases, are amused at the fundamentalists, and yet basically are not even up to their level."

Bonhoeffer remembered that students "openly [laughed]" at a lecture on sin and forgiveness, and accused the seminary of having "forgotten what Christian theology in its very essence stands for." Disillusioned, he decided to return to Germany to resist the Nazi regime, where he was executed at the Flossenbrg concentration camp in 1945 for his role in the July 20 plot to assassinate Adolf Hitler.

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'Absolute theological bankruptcy': Union Theological Seminary students confess climate sins to plants - Washington Examiner

CONDITION. THE DRIVER OF THE OTHER VEHICLE WAS NOT INJURED. LIONHEART EVENT GROUP FILED FOR CHAPTER SEVEN THIS MORNING. THE COMPANY SAYS NO FUNDS ARE AVAILABLE TO UNSECURED CREDITORS AFTER ANY ADMINISTRATION EXPENSES ARE PAID. BACK IN JULY OFFICIAL SAID THEY WERE FORCED TO CANCEL THE REGATTA DAYS BEFORE IT WAS SET TO START BECAUSE LIONHEART MISLED THE BOARD AND THE CITY ABOUT PAYMENTS, INSURANCE AND OTHER DETAILS ABOUT THE FESTIVAL. ALLEGHENY COUNTY SHERIFFS OFFICE FILED A LAWSUIT AGAINST

Company hired to organize Three Rivers Regatta files for bankruptcy

Updated: 12:28 PM EDT Sep 16, 2019

The promotion company that was hired to put together this year's Three Rivers Regatta has filed for bankruptcy.LionHeart Event Group filed for Chapter 7 Monday morning.In the filing, the company says no funds are available to unsecured creditors after any administration expenses are paid.In July, officials said they were forced to cancel the Three Rivers Regatta because LionHeart Event Group misled the board and the city of Pittsburgh about payments, insurance and other details.The Allegheny County Sheriff's Office filed a lawsuit against LionHeart Event Group, claiming it did not pay the nearly $33,000 in security services provided during the Three Rivers Regatta in 2018.

The promotion company that was hired to put together this year's Three Rivers Regatta has filed for bankruptcy.

LionHeart Event Group filed for Chapter 7 Monday morning.

In the filing, the company says no funds are available to unsecured creditors after any administration expenses are paid.

In July, officials said they were forced to cancel the Three Rivers Regatta because LionHeart Event Group misled the board and the city of Pittsburgh about payments, insurance and other details.

The Allegheny County Sheriff's Office filed a lawsuit against LionHeart Event Group, claiming it did not pay the nearly $33,000 in security services provided during the Three Rivers Regatta in 2018.

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Company hired to organize Three Rivers Regatta files for bankruptcy - WTAE Pittsburgh

In the closet of any girl aged 14-24, at least one item by the popular fast fashion brand Forever 21 can be found. Despite this, the retail giant recently declared bankruptcy and might be closing some of its 815 stores soon. Since the creation of online shopping, brick-and-mortar stores have seen a drop in sales. Since 2017, many stores such as Barneys and Toys R Us have gone bankrupt or begun to close stores, and Forever 21 appears to be no exception to this trend. This isnt a reason to pity the brand; however, as Forever 21 and other fashion brands are an environmental and human rights detriment that consumers should be encouraged to boycott.

Forever 21 has been dubbed by many as the official party clothes supplier for college girls. This means that the clothes are cheap, trendy and easily replaceable. The stores clothes arent meant to last more than one seasons use; many dont even make it that far and end up in a landfill after a half dozen wears. This is the cycle of the fast fashion industry. Clothing is made in factories by underage and underpaid workers. These employees are primarily female, fitting into the target demographic for the clothing that theyre forced to mass-produce.

Not only is fast fashion a human rights issue, but it has a shocking environmental impact. Every year, 12.8 million tons of clothing are sent to landfills in the United States alone. This statistic is staggering, particularly in an era with so many environmental movements. The phrase save the turtles has become a popular slogan accompanying the movement toward the banning of plastic straws. Foregoing the use of plastic straws has been an easy sacrifice for many, but most arent yet ready to accept the impact their retail shopping habits have on the environment as well. Runoff from the dyes of clothing in landfills pollutes water sources, not to mention the large amounts of water required to produce the clothing in the first place.

Of course, Forever 21 isnt the only culprit of the fast-fashion crisis. Online brands such as Cupshe, Romwe and many more are also to blame, and consumers should seek alternatives whenever possible. An argument could be made that the average young adult shopping for trendy clothes doesnt have the money to shop at ethically sourced and fair trade clothing stores, but they have other, even cheaper options. Thrifting has become popular among many Instagram and YouTube influencers. This may seem easier said than done for those who live in an area free of thrift stores stocked with trendy clothes, but they arent entirely out of luck. There are many online options that provide an excellent solution to this issue. These online thrifting options include Poshmark, Depop and Thredup. All of these stores give clothing otherwise headed for the landfill a second chance at life.

Many people assume that, as an individual, theyll have little to no impact on the environment by shopping at retail stores, or they dont consider what impact theyre having at all. In reality, every consumer makes an impact. No change is too small, whether it be making a trip to Goodwill instead of a local mall or selling old clothes to an online thrifting outlet rather than simply throwing them away. Forever 21 may close their doors in the upcoming months, but this is still only the beginning of the fight against fast fashion.

Georgia is a freshman media arts and design major. Contact her at leipolge@dukes.jmu.edu.

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Opinion | Forever 21 is declaring bankruptcy, and we should let it - The Breeze

The planned bankruptcy auction for RUI Holding has been canceled after no bidder surfaced to compete with an offer from industry powerhouse Landrys for the operator of Palomino, Palisade and more than two dozen other restaurants in the Pacific Northwest and elsewhere.

Houston-based Landrys in late August proposed to pay $37.2 million for RUI. In a notice posted on the Delaware bankruptcy-court website Tuesday, RUI said the auction was canceled and a hearing on the sale to Landrys is scheduled for Sept. 23.

RUI filed for Chapter 11 protection from creditors in early July, shortly after closing six locations including Palomino Rustico at Bellevues Lincoln Square and restaurants in Oregon, Texas, Indiana and California.

The company still has nearly 30 properties, ranging from upscale seafood and steak restaurants to its recent Henrys Tavern brand, which court papers depicted as a costly failure.

Originally known as Restaurants Unlimited, the company was started by Rich Komen in 1969 with the Seattle steak and lobster house, The Red Baron. In 2007 the company was sold to Sun Capital, a private equity firm that retains an ownership role with RUI.

Landrys says it owns and operates more than 600 properties under more than 60 brands including Landrys Seafood, Chart House, Saltgrass Steak House, Bubba Gump Shrimp Co., Mortons The Steakhouse, Mastros Restaurants and Rainforest Cafe. It acquired the Portland-based McCormick & Schmicks chain in 2011.

Seattle Times business staff

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Restaurant company RUI bankruptcy auction canceled for lack of competitive bids - The Seattle Times

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OSHKOSH - Even as its parent company struggles through a messyChapter 11 restructuring, managers of the Menominee Nation Arena are pressing on with the venue's goal ofcarving a unique niche in the region's crowded entertainment space.

That includesarena staff distancing itself from its ownership group, most notably Greg Pierce, president of Fox Valley Pro Basketball Inc.

Its marketing manager recently took to social media to thank the community for its support,remind patrons the arena is open for business and noted the facility is under a new management structure.

Jason Fields, the arena's general manager, said Pierceno longer oversees any operations. Fields sees the bankruptcy as a way to restructure the company by instilling new budgetary practices and properly managing finances.

"To be real honest about it, it hasn't really hindered me too much," Fieldssaid. "It's a little bit of a clean slate."

RELATED: Tesla canceled, other shows rescheduled at Menominee Nation Arena

RELATED: Menominee Nation Arena owner may borrow up to $200,000 from sister company to stay open

RELATED: City documents shed light on negotiations as financial strain beset Menominee Nation Arena

Pierce hired two prominent community insiders to run the venue, starting with the former longtime head of the Oshkosh Convention and Visitors Bureau, Wendy Hielsberg, and later turning to a sitting member of the Oshkosh Common Council, Deb Allison-Aasby.

After Allison-Aasby departed,Pierce hired Fields and began handing off operations to him in May, Fields said. At the same time, thecompany's finances began to unravel, culminating with lawsuits by Bayland Buildings Inc. and other contractors and an eventual bankruptcy filing last month.

Jason Fields(Photo: Courtesy of Menominee Nation Arena)

"From my end, I had to sort of demand silence because we can't answer questions (about decisions) that we had nothing to with," Fields said of the arena's 150 employees. "There are not a lot of people that were in here in managerial positions that were involved with any of the (previous) GMs anymore."

Fields said it's not uncommon for large venues to undergo restructuring under Chapter 11 bankruptcy protection, pointing to Red Lion HotelPaper Valley in Appleton, whose parent company also filed for Chapter 11 in late July.

Fox Valley Pro Basketball, which owns and operates the arenais the subject of several lawsuits from investors and other creditors, who say the company owes millions of dollars for construction, public relations and marketing work and legal services.

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Late last month, afederal judgeallowed Pierce to loan the arena up to $200,000 for ongoing operations. The money came fromWindward Wealth Strategies Inc., a company Pierce also heads.

In a statement issued Sept 6, a group of unnamed arena employees, referring to themselves as "the internal team" separate from "the ownership," pleaded with the community to continue supporting the sports and entertainment venue.

"We understand that recent changes have caused quite a discussion in the community and we want to connect with you and be a part of the conversation," the statement reads in part. "We have a strong internal team that operates the arena on a daily basis. This team is made up of local community members, just like you, working hard behind the scenes to create a legendary space for live engagements here in Oshkosh."

Opening as the 10th largest indoor concert venue in the state in December 2017, organizers then said the plan was to bring in about six regional and national performers each year.

The first year then featured two big-name comedians in Jeff Foxworthy and Larry the Cable Guy, more than a half-dozen concerts including Gladys Knight and Peter Cetera, and a sprinkling of sports entertainment events. The 2019 calendar was shaping up in a similar fashion until the recent cancellation or postponement of visits from Tesla, Buckcherry, Kareem Abdul-Jabbar and Rodney Atkins.

There are few events listed on the arena's schedule this fall. However,it is also home to the Wisconsin Herd, the NBA G League affiliate of the Milwaukee Bucks. The team's new season starts Nov. 8, including 24 home games in Oshkosh.

RELATED: Menominee Nation Arena: Rodney Atkins concert rescheduled; male review, Glo game added

RELATED: ACW Wisconsin sues Oshkosh arena owner over $30,000 in unpaid ticket sales, promotions

RELATED: City suspends tax rebates to Menominee Nation Arena, Bucks remain committed to Oshkosh

The arena jumped into a crowded entertainment scene along the Interstate 41 corridor from Green Bay to Fond du Lac. Venues from the Resch Center and Weidner Center in the Green Bay market to the Fox Cities Performing Arts Center in Appleton are among those regularly bringing in national attractions.

Lambeau Field can now be counted on for a huge show almost every summer about 50,000 saw Paul McCartney this year and Fox Cities Stadium in Grand Chute has welcomed about 8,000 people for summer concerts in recent years.

Terry Charles, senior corporate communications manager for PMI Entertainment Group (which manages the Resch Center and Meyer Theatre), said the entertainment business is tough and it takes years to learn what does and doesnt work in a market. And even then sometimes there are surprise hits or flops.

"There's definitely more competition, I would say, today for the entertainment dollar than there was when I started 20 years ago," Charles said.

Smaller spaces like The Grand Oshkosh, Green Bay Distillery and the Meyer Theatre also compete for those same dollars and, to an extent, bookings. Many communities also have free weekly concerts outside during the summer. And on a grander scale, Oshkosh welcomes tens of thousands of people to Ford Festival Park for Country USA and Rock USA every year.

Mike Dempsey(Photo: Contributed)

As far as the arenas most direct competition, the Oshkosh summer staple Waterfest at the Leach Amphitheater might be it. The two venues are within walking distance of each other. Both bring in known hitmakers from the '60s, '70s and '80s. Both can host crowds in the 4,000 range.

Still, only a few arena bookings 38 Special, Starship, Foghat and Tesla fit the Waterfest mold. Mike Dempsey, who has steered the series for more than 30 years, said the arena's arrival has only had a minimal impact.

"Nothing really negative," Dempsey said. "We think it's good. They're marketing the community in a different way. To a certain extent we compete for the same acts that are out there at a certain time and place, but other than that, if they're marketing Oshkosh, great."

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Menominee Nation Arena employees distance themselves from owner, continue mission despite bankruptcy - The Oshkosh Northwestern

South Arkansas bankruptcies by county for the week ended Tuesday, September 17, 2019, according to the United States Bankruptcy Court for the Western District of Arkansas.

Lafayette

Lazerick Parrish and Latresa Parrish, 405 Main St., Stamps; Chapter 13; bankruptcy filed September 9.

Nevada

Mercy May Carrigan, 708 Bryant St., Prescott; Chapter 13; bankruptcy filed September 6.

Steven Jonathan Carlton, 5405 Hwy 278, Rosston; Chapter 13; bankruptcy filed September 12. He should not be confused with his father, Steven Joe Carlton.

Ouachita

Shirley C. Morgan, P.O. Box 1243, Camden; Chapter 7; bankruptcy filed September 6.

Aaron Michael McMahen, 2430 Old Wire Rd, Camden; Chapter 13; bankruptcy filed September 13.

Union

Peggy Edwina Doster, 319 W Cook St., El Dorado; Chapter 7; bankruptcy filed September 9.

Rochelle Carlotta Hicks, 243 Union Lane, El Dorado; Chapter 13; bankruptcy filed September 13.

Sheila M. Monk, 601 W. Cedar St., El Dorado; Chapter 13; bankruptcy filed September 16.

Katrina Leann Massey, 703 E. 10th St., Smackover; Chapter 13; bankruptcy filed September 16.

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South Arkansas bankruptcies for the week ended Tuesday, September 17 - Magnoliareporter

States have been divided over whether Purdue Pharma should be allowed to use Chapter 11 protection as part of a $10 billion settlement. But Tennessee Attorney General Herbert Slatery says the state needs that money now to address effects of the opioid crisis, like funding addiction treatment and buying overdose reversal drugs.

"Its not just the traditional dollar settlement on a claim that could sit out there forever and ever," he tells WPLN. "This has some real, public health urgency to it."

Hear the radio version of this story by clicking the play button.

Tennessee is among the29 statesthat signed onto the settlement as Purdue filed for bankruptcy Monday.

But Pennsylvanias attorney general called it a "slap in the face" because the companys owners admit no wrongdoing and keep some of their fortune. New York and Connecticut have also refused to go along with the settlement.

Its unclear how much money states will divvy up from Purdue's bankruptcy. There are also more than 2,000 cities and counties that are participating in the settlement.

Its also unknown whether theyll be required to use it for addiction-related expenses. Slatery says state attorneys general may be best positioned to make sure the money is used as intended.

"The way we've approached it is that the most money should go to the parties that have the most need and have experienced the most difficulty the most deaths, the most opioids prescribed in their region," Slatery said. "The bad news for Tennessee is we have suffered significantly."

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Tennessee Is Content With Purdue Pharma Bankruptcy If It Speeds Up Payouts - WKU Public Radio

Romanik

EAST ST. LOUIS Declaration of bankruptcy by four AM radio stations has halted an investigation of their possible control by shock jock Bob Romanik, who calls himself the Grim Reaper of radio.

A judge in Washington stayed proceedings on Entertainment Media Trusts licenses on Sept. 12, a day after the trust filed a petition in bankruptcy court.

Lawyers who requested the stay for the trust suggested surrender, with references to involuntary transfers, liquidation, and subsequent license applications.

In other words, in this instance a stay may better position this matter to be resolved expeditiously than a continuation of the proceeding without delay, the lawyer for the trust wrote.

The Federal Communications Commission and St. Clair County board chairman Mark Kern oppose renewal of the licenses.

They suspect the trust conceals Romaniks control.

He has represented for nine years that others control the stations, which he cant control because he is a convicted felon, having served time for bank fraud and obstruction of justice.

Entertainment Media Trust acquired the stations from 2006 to 2010, with Romaniks son Stephen Romanik officially controlling the trust as beneficiary.

Belleville lawyer Dennis Watkins officially shared control as trustee.

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Kern petitioned the communications commission to deny renewal of the licenses in 2012, as an individual rather than a public official.

Watkins responded by calling Kern an aggrieved party with a personal vendetta against Robert Romanik for his exercise of free speech.

He accused Kern of character assassination on a person who was not a trust employee, much less a secret controlling influence on the stations.

Watkins wrote that Romanik formed the trust in 2006, as a vehicle to benefit his son.

As such, Bob Romaniks prior convictions and personal dealings are irrelevant to this inquiry, Watkins wrote.

He wrote that Stephen Romanik incorporated Insane Broadcasting in 2006.

It is engaged in the daily operation of the stations and production of much of the stations programming, Watkins wrote.

He wrote that no love was lost between Kern and Romanik.

However, bad blood is not a legal justification for the commission to deny a license renewal application, he wrote.

To be frank, Bob Romanik simply is an outsized personality and a natural promoter who enjoys having a radio show and supporting, in that small way, his sons business.

Stephen Romanik died in 2015.

Watkins proposed to transfer the trusts beneficial interest to Katrina Sanders, who shares a Belleville address with Romanik.

Kern, whose petition to deny renewal remained pending, petitioned to deny it due to the change in beneficiaries.

Mr. Kern doesnt like criticism, and is trying to silence Robert Romanik from criticizing him, Watkins responded.

This June, the commissioners announced that they referred Entertainment Media Trust to an administrative law judge for a hearing.

They stated that they found significant evidence for Romaniks control.

They stated that he established the trust and provided all funds for acquisition of the stations, but was not listed as a party in license applications. They stated that he identified himself as a radio station owner, assigned the trusts interests to his girlfriend, and negotiated a marketing agreement.

They also stated that the trust instrument didnt contain provisions insulating him from ownership, as commission rules require.

On Aug. 20, the commission asked the trust for documents about communications among Bob Romanik, Stephen Romanik, Watkins, and Sanders.

On Aug. 30, on behalf of the trust, Davina Shaskin of Arlington, Va., moved to extend the time for responses.

Shaskin sent a letter to administrative law judge Jane Hinckley Halprin on Sept. 3, advising her that this proceeding forced the trust to consider bankruptcy.

It is meeting with bankruptcy counsel today to evaluate its options, Shaskin wrote.

Halprin granted a short extension, and Shaskin filed responses on Sept. 10.

On many requests, she wrote that there were no documents because none of the communications were rendered in writing.

On a request for all payments the trust made to Insane Broadcasting, she wrote that no documents were available.

She pledged to produce such documents as soon as they might be obtained.

She made the same pledge about Insane Broadcastings reimbursement of the trusts repairs and improvements.

She objected to a request for documents showing Insane Broadcasting pays all costs for the stations, writing that the documents arent in the trusts custody.

On Sept. 11, Jerry Graham of OFallon filed the trusts bankruptcy petition.

He valued the licenses at $2 million and accounts receivable at $15,950.

He showed liabilities of $99,632 for Shaskins services, $6,989 for Washington lawyer Anthony Lepore, and $14,875 in a communications commission lien.

The liabilities add up to $121,496, about a seventeenth of the assets.

On Sept. 12, Bankruptcy Judge Laura Grandy ordered the trust to file a corporate ownership statement by Sept. 25.

She set a meeting of creditors on Oct. 25.

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Media trust believed tied to Grim Reaper files bankruptcy amid FCC investigation - Madison County Record