Forum - View topicNEWS: Funimation Sues A.D. Vision, Sentai, Others for US$8 Million
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GATSU
Posts: 15306 |
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Teriyaki:
Well, that's what people were sure about in 4Kids' case, till they owned TV Tokyo in court. There's an irony of FUNi being a third party in that dispute, too.
Technically, it'll have to, if the pre-trial begins in October... |
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enurtsol
 Posts: 14761 |
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Hahaha, let the jury decide!
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anglicanotaku
Posts: 9 Location: Metro Atlanta |
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The way I read it, (b) says, stipulations or agreements that impose a less than 2 year limitation on suits as opposed to the 4 year limitation in the rest of the section are not valid unless the monetary value involved was equal to or more than $500,000 (which $8million sure is). ADV may be claiming that within the initial contract, there was a stipulation that established a 2 year (or less) limitation, and since the sum involved is at or around $8million. This is merely conjecture though. |
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metroid24
Posts: 69 Location: grand junction colorado |
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dang i hope they come with a settlemnt like a few gs cause last thing i want is another company to get shut down 1st it was geneon thanks to universel for that then bandai and now all there is is us manga mediablasters sentai films viz films and the most stable funimation i call them most stable since finacially between this and encore they distrbute they are the top dogs now i just hope they work peacefully sette for a few grand or drop the suit
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anglicanotaku
Posts: 9 Location: Metro Atlanta |
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A coupe of thoughts:
From the main article
which is interesting, since the news release on www.advfilms.com and dated September 1, 2009: "A.D.VISION, INC. CONCLUDES SERIES OF ASSET TRANSACTIONS" includes the following statement,
Now, www.yourdictionary.com gives the business definition of "subordinated interest" as
Meanwhile, the Sirius Cybernetic Marketing Division defines "subordinated interest" -as they define all their products- as "Your plastic pal who's fun to be with" 
As to why Funi included Sentai et. al. in the lawsuit, its possible that Funi is covering all its bases by casting as wide a net as possible in the lawsuit. It is also possible that the Judge may pare down the number of defendant based on standing, if the lawsuit is not dismissed. |
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enurtsol
Posts: 14761 |
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Why do you blame Universal for that? |
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Yoda117
Posts: 406 |
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Pretty much. When news of ADV's bankrupcy first hit ANN, there was a lot of stuff flying, but a few of the posters were very good at pointing out the key elements based on the information ANN had linked to their article at the time. One of the biggies was that the way ADV was doing this would harm a lot of their creditors and provide them with a means of selling their more popular titles to the spin-offs for pennies on the dollar. At the time the question was raised whether or not that would result in future lawsuits. I think we now know the answer. It should be interesting to see how this plays out, and to get more information on the finances if this matter should actually make it to trial. |
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mike.motaku
 Posts: 160 Location: Indiana |
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Personally I think Funimation acquired the debt just for the purpose of tying any entity that arose out of ADV into an expensive legal battle because competition is competition and if you can't beat them in the market place, you can beat them in court. If Funimation filed the lawsuit outside of the statute of limitations, well, too bad for them. Either way, Sentai, a much smaller company, now has to spend a lot of money & effort for much of 2012 fighting what may turn out to be just a nuisance lawsuit that Funimation knows it stands no chance of winning but wants to see what it would take to force Sentai out of business.
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dragonrider_cody
Posts: 2541 |
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First of all, ADV never filed for bankruptcy. If they had, this debt would have already been resolved one way or the other and several of the creditors would have been screwed anyway. Secondly, the licenses ADV still held were older, had little value, and many were on the verge of expiration, hence why many have been rescued by Funi and others. Honestly, I doubt we will get much information from this lawsuit one way or the other. Certain documents will be made available to public but many will be kept confidential, particularly financial documents. The chances of us learning much are even lower as this is a relatively small lawsuit between two relatively tiny companies and it's not likely to receive any press coverage, other than ANN who will probably not attend the proceedings. |
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samuelp
Industry Insider
Posts: 2231 Location: San Antonio, USA |
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Ooh, we should take up a collection to send bayoab to the trial/hearings and live-blog it. |
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TheTheory
 Posts: 1029 Location: Central PA |
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If I remember correctly, it was pretty well agreed upon in the threads attached to the Sentai/Section23 phoenix-act that ADV was pulling some pretty tricky legal strings to dodge some debt.
That these ghosts are coming back in a lawsuit are not surprising. The surprising part (for me) is that FUNi has their fingers in this mess. As an anime fan the best-case scenario is that FUNi doesn't require this money to stay afloat and this case gets dismissed before the lawyers can start their bloodletting. To me I care less about who is right and who is wrong--all I care about is keeping as many viable anime companies afloat as possible. |
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agila61
 Posts: 3213 Location: NE Ohio |
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Or they do owe Funimation some amount bigger than $0 and smaller than $8m, and Funimation sued for $8m to force them to pay that smaller amount. The forum lawyering ~ and IANDL, which is to say, I Aint No Damn Lawyer ~ suggests that there are distinct legal theories and claims of fact tied to distinct aspects of the suit, so $8m could well be an "ambit claim" ~ the most that they could plausibly win, as a wrapper around an expectation of probably winning some lesser amount. But on the financial side, its seems extremely unlikely that Funimation would have received this standing to sue in lieu of $8m in cash ~ if they received this standing to sue in return for a consideration, it would seem likely to be worth pennies on the dollar. The range for a settlement would be what Funimation expects that its very likely to win, minus lawyering up costs, at the bottom end, and what neo-ADV expects its likely to lose, plus lawyering up costs, at the top end. If the two ends do not line up right, that's where its most likely to go to court. But the game theory suggests that if either side has substantial uncertainty regarding the view of the value of the case of the other side, a settlement might not occur until some early stages of the trial itself narrows down the field of play. |
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configspace
Posts: 3717 |
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Having served on a jury, knowing the selection process--they will most definitely NOT get a jury of their peers, i.e. contract lawyers and business or legal professionals, either due to pruning by Funi or not having the selection-- and knowing how the results go for many past cases concerning technical matters (technological or legal) I am always very suspicious, especially in Texas (where it's infamous for this) when one party requests a jury trial. It almost always means that they aren't purely confident about merits of the case. As in, if they let judges decide, they think there's a not insignificant chance they can loose. |
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Sunday Silence
 Posts: 2047 |
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Some hope that on that jury is a disgruntled Otaku with a hard-on hate for FUNi and manages to at least make it a mistrial. |
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silentjay
Posts: 304 |
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It's because the parent company in Japan is now known as Geneon Universal, but that merger didn't happen until long after Pioneer shut down Geneon USA. |
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