UD vs. Konami Lawsuit

cardz1976 said:
I wonder how long it took him to start hiding all his assets so when they claim bankruptcy it's not a total loss for him.
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And why do you think his personal assets have anything to do with if and when UD declares bankruptcy????

The only thing a bankruptcy trustee could look at would be the last 6 months of compensation that was given to McWilliams. Prior compensation - unless it is shown that he systematically defrauded the company/investors would be pretty much off-limits.

And I would guarantee that this settlement has language in it that addresses any personal liabilities by UD officers.

I would be curious to know if there is any languuage in the settlement that addresses an Upper Deck filing be it reorganization or complete???

bruce
 
I heard about the settlement last night but it was unconfirmed, seems now it is a reality.

You are right, seems like money solves everything. Integrity doesn't seem to count for that much.

I always believed that eventually everyone gets what they deserve, still waiting.
 
bprice said:
I heard about the settlement last night but it was unconfirmed, seems now it is a reality.

You are right, seems like money solves everything. Integrity doesn't seem to count for that much.

I always believed that eventually everyone gets what they deserve, still waiting.
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To be honest with where the league is heading, how bad the situation is in the NHLPA, I dont see the wait getting shorter.
 
I was really hoping that this would go the distance so we could see the damage. Now we will never know unless someone leaks it. But the way things operate at Upper Deck its seems likely someone will get fired and spill it. Until that day comes....
 
Correct me if I'm wrong, but since Konami is a publicly traded company, would a case of this magnitude not, by law, require that documentation be made available to the public?

If so, I'd look for Konami to issue a presser shortly.
 
blindros88 said:
I was really hoping that this would go the distance so we could see the damage. Now we will never know unless someone leaks it. But the way things operate at Upper Deck its seems likely someone will get fired and spill it. Until that day comes....
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Has it been "spilt" yet that they printed extra copies of the Griffey RC and UD French as it has long been rumoured? Sadly, I don't think anything will be revealed down the road.

I was hoping for the case to go furthur, but I'm guessing that the discussion between the lawyers went something along these lines [this is assuming that Upper Deck sets themselves up in a certain way to protect their assets and my understanding of corp. law]

Konami : we want ba-zillions
Upper Deck : sue us
Konami : okay
Upper Deck : okay, the company you had the deal with is UD Non-Sport Division LLC (or whatever), it has very little money, you can't get money from a stone
Konami : ...
Upper Deck : how about this, we pay you SOME penalty, the court case goes away, the public doesn't hear about this any longer and we don't have to have UD NS Division declare bankruptcy, and hell, as we mentioned you get something.

Kevin
 
DXFlyers said:
Called it 20 days ago. If UD can pay this setlement off by March, then the settlement is not much at all.
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Don't kid yourself... if they had a $90+ million tax bill a year ago, they make substantial income and likely have $$ in the bank to pay this sort of settlement. If they were looking for $hundreds of millions, I bet it's $50M+ in a settlement.
 
how'd the kick in the pants feel upperdeck??? now you know how we feel all the time...anyone care to bust out that nuts kicking photo with Ricky McGreedy taking one for the team?

this may only be a drop in the bucket for them...but at the end of the day it effects someones bottom line and most likely that of Richard McWilliam...so i'm willing to bet he'll think twice before doing something of the sorts again....at least we better hope he does...


it may be inappropriate for me to say this...but it feels soooo good...


Geoff
 
meatmancgy said:
Don't kid yourself... if they had a $90+ million tax bill a year ago, they make substantial income and likely have $$ in the bank to pay this sort of settlement. If they were looking for $hundreds of millions, I bet it's $50M+ in a settlement.
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Their E and O insurance may also pick up part of the settlement costs. Guess insurance could try to bail saying it was totally intentional by UD. UD's lawyers could have years of full employment ahead even if this part is settled.
 
geplimestone said:
how'd the kick in the pants feel upperdeck??? now you know how we feel all the time...anyone care to bust out that nuts kicking photo with Ricky McGreedy taking one for the team?

this may only be a drop in the bucket for them...but at the end of the day it effects someones bottom line and most likely that of Richard McWilliam...so i'm willing to bet he'll think twice before doing something of the sorts again....at least we better hope he does...

it may be inappropriate for me to say this...but it feels soooo good...

Geoff
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we don't know what the situation is with UD financially. for all we know, UD may have knowingly taken a $1 knowing they'd have to give back $.60 later. in that sense, it wouldn't matter to them aside from a little press which would eventually fade away.

also, our kicking in the junk (as hobbyists) is brought on by no one but ourselves. for the time that UD has/had the exclusive, nothing was going to change that. most of us (myself included) still chose to participate in the hobby. the problem with disposable income is it's disposable. quite frankly, no product i ever buy is completely perfect but i'm willing to take the good with the bad. more often than not, the good outweighs the bad for me. :)
 
pssteve said:
Their E and O insurance may also pick up part of the settlement costs. Guess insurance could try to bail saying it was totally intentional by UD. UD's lawyers could have years of full employment ahead even if this part is settled.
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Someone once said... the only ones that get rich in lawsuits are the lawyers.
 
pssteve said:
Their E and O insurance may also pick up part of the settlement costs. Guess insurance could try to bail saying it was totally intentional by UD. UD's lawyers could have years of full employment ahead even if this part is settled.
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Most likely this will not be covered by the insurance. This would fall under the "willful and wanton act" carve out.
 
suitman19 said:
And why do you think his personal assets have anything to do with if and when UD declares bankruptcy????

The only thing a bankruptcy trustee could look at would be the last 6 months of compensation that was given to McWilliams. Prior compensation - unless it is shown that he systematically defrauded the company/investors would be pretty much off-limits.

And I would guarantee that this settlement has language in it that addresses any personal liabilities by UD officers.

I would be curious to know if there is any languuage in the settlement that addresses an Upper Deck filing be it reorganization or complete???

bruce
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I wasn't really meaning his personal assets but rather if they(UD) had rare cuts, jerseys, sticks or any sporting goods for that matter that could fuel another company if they happened to fold and open under a new banner.
 
This issue deserves its own thread.

Wonder what the NHL is thinking about UD?

ITG will closely follow this matter, it will get interesting.

Brian Price
 
If I recall correctly, MLB has or had a similar lawsuit out against Panini/D/P over logo usage in Sports Legends.

The leagues are starting to wise up to this so anyone with a license really are going to have to tread carefully. ITG has done a really good job in abiding by this. The only cases I can remember seeing full logos is on goalie masks, but if I recall correctly, those are considered art and it's kosher... right?
 
cardz1976 said:
I wasn't really meaning his personal assets but rather if they(UD) had rare cuts, jerseys, sticks or any sporting goods for that matter that could fuel another company if they happened to fold and open under a new banner.
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I'd be skeptical about any cuts that UD has. I know one of their sources is very solid, but we've seen Muzz Patrick on Lynn Patrick cards, Montreal's Jack Adams on Detroit's Jack Adams cards, A bogus Ed Plank, and Ray Dandridge's Wife's cut autograph on his cards. I'm not accusing UD of knowingly using bogus graphs, but some their autograph sources have taken them for a ride in the past.
 

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