Sunday, March 21, 2010

CPM Bankruptcy New Developments - "Anime Channel” trademark sold

I asked calaggie of Nigorimasen blog over twitter, to check up on the Central Park Media bankruptcy proceedings, and recently there have been some new developments. Summed up pretty much what has happened is the "Anime Channel” trademark, which CPM owned, has been sold to another party for the sum of $5,000.

A “Response Due Date” action was filed on March 17th, that also set March 29th as the due date. It details the sale of U.S. Trademark No. 2,870,643, “Anime Channel”, which was owned by Central Park Media, to a "an undisclosed Japanese client” The initial offer was for $800, and later after some telephone calls it had been raised to the $5,000 it is currently at. The trustee had decided that it was in the best interests of of CPM’s bankruptcy estate to forgo and auction, and sell the trademark to this party. As calaggie writes, "the trustee firmly believes a private sale, rather than a public auction, is in the best interests of CPM’s bankruptcy estate; the trustee hasn’t received any other offers and doesn’t believe “there would be sufficient interest [in it] to justify the expense of marketing and auctioning [it].”

For a more detailed analysis of this news, please read calaggie's article on it. He also details the history of the trademark, which CPM first applied for on August 10, 1999.