Posted on 06/05/2008 7:14:52 AM PDT by doug from upland
STAN LEE INVESTIGATIVE REPORT #1 - TRANSFER OF ASSETS
CAVEAT: As a shareholder of a large number of shares of Stan Lee Media, I am involved in the legal proceedings of Stan Lee Media and have a financial interest in a lawsuit against Marvel. Although the financial reporters have failed to investigate the story, Marvel has been sued for $5 billion by the reconstituted Stan Lee Media.
BACKGROUND: In November 2006, after almost six years, the bankruptcy of Stan Lee Media was dismissed for cause. After meeting with Peter Paul over three years ago to begin work on the Paul v Clinton case and HILLARY! UNCENSORED, I spent considerable time at the bankruptcy court reviewing the file. We believe we have uncovered perhaps the largest bankruptcy fraud ever. The story will be told in a series of reports on YouTube.
#1 - TRANSFER OF ASSETS
In April 2000, Central District California Bankruptcy Judge Kathleen Lax signed the order approving a sale of assets to a company being formed by Stan Lee, SLC LLC. Lee would give no money for the assets, such as THE DRIFTER and THE ACCUSER, but his responsibility was to develop the properties for the benefit of shareholders and creditors. They were conveyed free of liens. Unknown to the court, although Lee signed the agreement as president of SLC LLC, he never formed a company called SLC LLC.
Junko Kobayashi was the debtor in possession representing SLM and happens to be an officer in Stan's new public company, POW! ENTERTAINMENT (Purveyors of Wonder). Unknown to the court, the creditors committee, or the shareholders, in August 2006, Kobayashi signed over THE DRIFTER and THE ACCUSER to QED PRODUCTIONS LLC and Gill Champion. QED is a subsidiary of POW! Champion, like Kobayashi, is an officer of POW! In October 2006, shortly before the BK dismissal, POW! and Vidiator announced a deal using the properties THE DRIFTER and THE ACCUSER.
So what we have discovered is that, contrary to the agreement of the parties and an order of the judge, an insider of POW! transferred assets to another insider of POW! through a subsidiary of POW! We have the document from the US Office of Copyright showing the transfer. When I informed the Trustee of the illegal asset transfer, which we discovered after the dismissal, she appeared to be amazed. This was done in broad daylight, but no one seemed to know.
This issue is an example, but it is only a minor part of the story. More revelations, staggering in proportion, are to follow. You are going to learn that public companies have been, shall we say, less than forthcoming with public reports to shareholders and the SEC. Perhaps it is time for shareholders, business reporters, attorneys general of various states, the SEC, and the Justice Department to become curious.
EXCELSIOR!
Could you summarize this please?
Who’s the crook here?
Didja catch Stan Lee’s cameo as Hugh Hefner in “Ironman”??
Maybe in comic book format with lots of Bam! Pow! Embezzle!
If someone has the artistic talent, I’d love to do this series as an online comic book.
There are a lot of crooks involved. Very wealthy crooks.
In this episode, two insiders appear to have conspired to loot the bankruptcy, contrary to the order of the judge. Stan signed an agreement as the president of a company he never formed. Oops. POW! now claims assets in its company that were never approved by the judge. How did they acquire those assets?
Stay tuned as this case is laid out piece by piece.
Doug, I sure hope you recover your lost money on all of this in the end.
The whole thing just sounds so sordid, the more one hears.
I did not.
You are going to learn that the new officers of SLM have claimed 1/2 ownership of Stan’s characters. You will see the contract he signed with SLM in 1998 and the same contract he signed with Marvel one month later. This is going to become very, very interesting.
Shouldn't that be Scam! Power of attorney! Embezzle! ?
It was one of the greatest disapointments in my life when I learned that Stan Lee was a democrat.
I have a feeling he is soon to be in for a good deal of trouble.
"Spider Pig, Spider Pig
Does whatever a Spider Pig does."
Wait until you see the evidence of the two contracts he signed. One month after he signed away everything to SLM for his contract and majority of stock, he warranted to Marvel that he had the right to convey to them the same things he conveyed to SLM. That is a monumental problem for a lot of big players.
What Stan signed over the SLM -— everything he had or was to have in the creative universe -— was the major asset of SLM. It was listed on the SEC reports as the main asset. Yet, it was never listed as an asset in the BK. Marvel used the contract to borrow a huge amount of money from pension funds. Attorneys General in those states where the pension funds are located may have some interest in this.
“Didja catch Stan Lee’s cameo as Hugh Hefner in “Ironman”??”
From the look on Stan’s face I thought that Stark just mistook him for Hef.
aybe if Hitlery woudl file an accurate campaign finance report, Stan Lee wouldn’t hve to file this.
What Stan did is separate from what Hillary did. Stan signed two contracts signing over the same rights in 1998.
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