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jsevakis
Former ANN Editor in Chief
Joined: 28 Jul 2003
Posts: 1684
Location: Los Angeles, CA
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Posted: Fri May 04, 2012 3:49 pm
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BalmungHHQ wrote: |
jsevakis wrote: | If they really no longer legally exist, that would likely trigger the cancellation of most of their license agreements. |
Which doesn't seem to be the case though, since releases of theirs are still coming out. Their Squid Girl Blu-Rays shipped just a few weeks ago, and a lot of their other stuff is still being worked on, delays aside. So they're certainly still active, at least.
Not to mention this is from a year ago, and they've released plenty of new releases in the past year. |
Right. The "story" here is that they allegedly continued doing business as Media Blasters, ignoring the dissolution order, meaning it's quite possible that the licensors signed their rights over to a non-existant company without knowing about it (or continued thinking their contracts are current with a healthy company, when that company no longer legally exists, because they were never told). The real-world repercussions of this are not clear, it's up to the licensors to figure out how to handle it from this point. It's standard in most contracts for a license to become "void" if a company is deemed legally insolvent, which this would almost certainly qualify as such.
Also, it appears MB's owners and executives may be personally responsible for some corporate debt, according to the law quoted in the article.
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zawa113
Joined: 19 Jan 2008
Posts: 7357
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Posted: Fri May 04, 2012 4:09 pm
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Soooo...I am probably just as confused as some of the other people, is MB now a zombie selling anime or something? And haven't they been announcing re-releases left and right?
Still, perhaps I shall get on GaoGaiGar I suppose. And Simoun, the only two shows I was really looking at there (but I have plenty of other MB titles on my shelf)
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Tempest
I Run this place.
ANN Publisher
Joined: 29 Dec 2001
Posts: 10420
Location: Do not message me for support.
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Posted: Fri May 04, 2012 4:16 pm
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The only two legitimate possibilities I am aware of are:
1) They are working towards reestablishment of the corporation.
2) They are working towards repayment of their debts and will shutdown when they are able to pay debts.
Personally I would assume the former.
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RyanSaotome
Joined: 29 Mar 2011
Posts: 4210
Location: Towson, Maryland
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Posted: Fri May 04, 2012 4:20 pm
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Isn't it illegal to work as a company if you're not officially recognized, since its a way to avoid paying taxes? Or am I remembering the law wrong?
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Tempest
I Run this place.
ANN Publisher
Joined: 29 Dec 2001
Posts: 10420
Location: Do not message me for support.
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Posted: Fri May 04, 2012 4:22 pm
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RyanSaotome wrote: | Isn't it illegal to work as a company if you're not officially recognized, since its a way to avoid paying taxes? Or am I remembering the law wrong? |
Yes but...
New York law specifically allows for a corporation that has been dissolved by proclamation to continue operation to wind up it's affairs. There also seems to be some allowance for working towards reinstatement.
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jree78
Joined: 14 May 2011
Posts: 123
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Posted: Fri May 04, 2012 4:22 pm
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They probably paid it a year ago, I don't think they update those types of things if the company goes back and pays the bill otherwise they shouldn't be doing business or they have a deal going on with the state. I'm glad I bought what I wanted from Media blasters a couple months ago cost me 140 dollars I hope that chipped in. Just need to get Squid Girl blu ray.
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AndrewSP
Joined: 23 Feb 2009
Posts: 8
Location: Columbus, OH
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Posted: Fri May 04, 2012 4:31 pm
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tempest wrote: |
RyanSaotome wrote: | Isn't it illegal to work as a company if you're not officially recognized, since its a way to avoid paying taxes? Or am I remembering the law wrong? |
Yes but...
New York law specifically allows for a corporation that has been dissolved by proclamation to continue operation to wind up it's affairs. There also seems to be some allowance for working towards reinstatement. |
If that allowance exists, then I can see the reinstatement being the only reasonable explanation. If they have to wind down their affairs, I don't know what purpose licensing new anime would serve.
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rizuchan
Joined: 11 Mar 2007
Posts: 974
Location: Kansas
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Posted: Fri May 04, 2012 4:33 pm
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In some ways... I sort of wish Media Blasters would just kick the bucket. IN SOME WAYS. The last thing I want is a bunch of people losing their jobs and the anime industry dying anymore. But its frustrating when they take on all these new licenses and projects and then release nothing, and I'd like it if stuff like Sayonara Zetsubou Sensei got a chance to have a US release.
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Anime Remix
Joined: 16 Dec 2009
Posts: 354
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Posted: Fri May 04, 2012 4:47 pm
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Straight from their Facebook
Quote: | Explanation of ANN story.
For all concerned about the ANN story, MB is not out of business or closing down its operation. What happen was the following. MB filed extensions for 2009, 10 and 11. Without notice or us knowing it could happen, the Secretary of State took action. We have now finished our 2009, 2010 and filing and will get the action reversed. We already spoke with them. The company continues to run, continues to release titles. It seems during the last TAF, our competitors decided to spread this paper around which has made life difficult.
As for the article in ANN, they never contacted us nor even gave us a chance to comment. |
Some explaining to do?
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blaster
Company Representative
Joined: 20 Jul 2003
Posts: 20
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Posted: Fri May 04, 2012 4:50 pm
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For all concerned about the ANN story, MB is not out of business or closing down its operation. What happen was the following. MB filed extensions for 2009, 10 and 11. Without notice or us knowing it could happen, the Secretary of State took action. We have now finished our 2009, 2010 and filing and will get the action reversed. We already spoke with them. The company continues to run, continues to release titles. It seems during the last TAF, our competitors decided to spread this paper around which has made life difficult.
As for the article in ANN, they never contacted us nor even gave us a chance to comment.
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Saffire
Joined: 25 Nov 2007
Posts: 1255
Location: Iowa, USA
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Posted: Fri May 04, 2012 4:51 pm
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Anime Remix wrote: | Straight from their Facebook
Quote: | Explanation of ANN story.
For all concerned about the ANN story, MB is not out of business or closing down its operation. What happen was the following. MB filed extensions for 2009, 10 and 11. Without notice or us knowing it could happen, the Secretary of State took action. We have now finished our 2009, 2010 and filing and will get the action reversed. We already spoke with them. The company continues to run, continues to release titles. It seems during the last TAF, our competitors decided to spread this paper around which has made life difficult.
As for the article in ANN, they never contacted us nor even gave us a chance to comment. |
Some explaining to do? |
Chris said on Twitter that he's attempted to contact them all week.
Last edited by Saffire on Fri May 04, 2012 4:52 pm; edited 2 times in total
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blaster
Company Representative
Joined: 20 Jul 2003
Posts: 20
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Posted: Fri May 04, 2012 4:51 pm
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Having fun at my expense?
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GrilledEelHamatsu
Joined: 02 Sep 2009
Posts: 703
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Posted: Fri May 04, 2012 4:52 pm
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JohnnySake wrote: | From the point of view from someone who actually files such forms for the out of state registrations for the company I work for, this really does not mean a whole lot. All it takes is to not file the form, and pay its associated fees and your company is considered inactive or dissolved in the eyes of that state. It has nothing to do with the financial health of a given company. It could be as simple as not wanting to pay some annual fees to save money.
That being said, I still am hoping Media Blaster pulls through these tough times they seem to be having. |
The way I see it, all this shows is that John S is no longer operating business in NY & it also indicates that Media Blasters is tranferring to New Jersey.
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Tempest
I Run this place.
ANN Publisher
Joined: 29 Dec 2001
Posts: 10420
Location: Do not message me for support.
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Posted: Fri May 04, 2012 4:55 pm
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Anime Remix wrote: | Some explaining to do? |
We've been calling them all week.
We left 3 voice mails with John Sirabella, and one with Andy Vidal. We also sent an e-mail to Sirabella and Vidal on Monday. Sirabella's bounced, but Vidal's did not.
Last edited by Tempest on Fri May 04, 2012 4:56 pm; edited 1 time in total
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blaster
Company Representative
Joined: 20 Jul 2003
Posts: 20
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Posted: Fri May 04, 2012 4:56 pm
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MB is not transferring to NJ. Fever Dreams has offices now in NJ for its productions. It is simply an issue of not file our taxes on time and this action coming without us knowing not knowing it could happen.
We have already contacted NY State, filling the appropriate taxes and explained to is it could be reinstated over the phone. At this point MB would be better described as a company not in good standing with NY State.
All business done at this time is not affected.
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