Monday, May 17, 2010

CPM Bankruptcy - Bid for “Anime Channel” raises to $10,000

Calaggie of Nigormisen blog has noted that the bid for the "Anime Channel" trademark, has doubled to $10,000. I wrote a few months ago that I asked Callagie to check up on the Central Park Media Bankruptcy proceedings. He checked his PACER account and then posted a story about how the trademark for the "Anime Channel" which CPM owned the rights to, was being sold for $5,000 to an unknown party.

Calaggie writes that before the sale could be approved, Griffin Vance a lawyer working for an unnamed party, contacted the Trustee of CPM's estate and made an offer for the trademark. He made an offer for $8,000 on April 9th. Callagie notes that "Vance’s law office is located in Houston, TX . "

Calaggie also writes that on On April 16th, the first bidder made an offer of $10,000 for the trademark. Vance's office was informed about this, and responded by saying their client "decided not to place any higher bids for the Trademark".

Calaggie then writes that the Bank of America "holds a secured claim against CPM’s estate" and that any profits made from the sale of this trademark will be distributed to them.

It is unclear at this time who made the second offer of $8,000. However A.D. Vision was located in Houston, TX , the same city as Vance's law office, until their collapse in 2009. But Tiffany Grant has recently confirmed that at least some of A.D. Vision's successors are still located in Houston, in fact in the same building as one of A.D. Vision's offices. A.D. Vision owned and operated the Anime Network, a North America VOD channel dedicated to running anime. The Anime Network is now owned by Valkryie Media Partners LLC, one of the successors to A.D. Vision. Funimation Entertianment is located in Flower Mound, Texas. Funimation also owns and operates an anime VOD channel, The Funimation Channel, which is also a 24 hour TV station in select places across the country.

It is also still unknown who the original bidder, who first big $5,000 and then $10,000 is as well.

Special thanks to Calaggie for keeping up with this story. Check out his blog post for a more detailed analysis of the sale of this trademark.