TV Loonland ready for asset sale
Written by Chris Forrester
Sunday, 07 February 2010 04:34
Not so many years ago TV Loonland enjoyed one of the larger sales booths at places like the MIPtv programming market. Now its bankrupt assets are ready for sale.
Its primary programme rights, including top-draw shows like the ever-popular Transformers and GI Joe series, have been taken back by their original rights’ holders. KPMG is handling the sale of the company’s remaining assets.
A statement from TV Loonland’s lawyers, handling the insolvency, says: “The insolvent TV-Loonland AG is now prepared to start the sales process of its assets (movies) in a structured process run by KPMG. Following the information of the preliminary insolvency administrator, the Munich attorney Dr. Wolfgang Ott, the focus lays on the realisation of the company’s assets (movies), including i.e. Pettson and Findus, Cramp Twins, Raymond or The Owl, and further still ongoing productions. It seems to be rather unlikely to sell the entire business operation to an investor.”
The transfer will last at least until the end of March 2010 and start only after the commencement of the insolvency proceedings. It is deemed to have the commencement of these proceedings early March 2010.