Upper Deck and Fleer

[TheTGB]

http://www.beckett.com/news/index2.asp?a=5938&s=1

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Fleer's Assignee Enters Into Asset Agreement with Upper Deck
7/5/2005 8:53:51 AM




July 1, 2005, Morristown, New Jersey: The Assignee, Warren J. Martin Jr., of the estates of Fleer/Skybox International LP and Fleer Collectibles, LLC, purveyors of sports and entertainment trading cards and collectibles, respectively, has announced that he has entered into an Asset Purchase Agreement naming the Upper Deck Company as the “Stalking Horse Bidder” to buy the Intellectual Property of Fleer/Skybox International LP and substantially all of the assets of Fleer Collectibles, LLC for $2 Million Dollars.

(Editor's Note: In most cases, the "Stalking Horse Bidder" is the Lead Bidder who has submitted a binding bid and has negotiated bidding protections such as a topping fee, right to match, and expense reimbursement.)

The auction is scheduled to take place on July 14, 2005 at 2 p.m. at the offices of the Assignee. Other bidders are invited to inquire about these assets and perform any due diligence prior to the auction date. The Assignee is seeking a hearing for July 15, 2005 to confirm the results of the auction and transfer ownership to the “Highest Bidder” of the auction.

The Assignee also wishes to announce that a website has been created to assist with the dissemination of information to creditors and other interested parties. The website, www.fleerabc.com, was launched today. The site contains contact information, copies of documents filed with the Court, a calendar, a section of “frequently asked questions” and will soon have inventories of other assets available for sale.

Warren J. Martin Jr., the Assignee, can be reached at 973-889-4096 and via email at [email protected], care of his legal assistant, Mathew Laskowski.

[TheTGB]

fleerabc.com will tell you what you can do with redemptions. please go there.

[RenegadeLonghorn]

Thanks for sharing this info. This will definitely help out a lot of members and their redemptions.



A NOTE TO REDEMPTION CARD HOLDERS

The Assignee understands that Fleer/Skybox International LP engaged in an industry practice where certain trading cards that contain autographs and/or pieces of game used sports equipment of the featured player(s) were randomly inserted into packs of trading cards. When a specific group of trading cards for a certain player(s) were not available “Redemption Cards” were inserted into packs, in place of the actual card. Those who receieved “Redemption Cards” were instructed to return them to Fleer/Skybox International to exchange them for the actual card.



At this time, the Assignee requests that those holding redemption cards NOT send them into Fleer’s P.O. Boxes listed on the cards, or to the Assignee directly. The Assignee is exploring possible solutions for redemption card holders. The Assignee, however, makes no promises or guarantees that a resolution will be found.



Redemption cardholders are invited to file a Proof of Claim, as a creditor of Fleer/Skybox International LP. These forms are located under the documents section of this website. As the forms must have original signatures, they cannot be electronically mailed to the Assignee. Further, those cardholders under the age of 18 must have their forms completed by a parent or guardian. Those filing claims should sign the original redemption card and send a photocopy of both sides of the signed redemption card attached to the claim. If you wish to assign a value to your claim, the Assignee understands that market values for “Redemption Cards” may be listed in independent trading card price guides. Those using these price guides to assign value to the claim should include a copy of the page supporting the value claimed including the source of the information. Multiple cards can be attached to one claim form with the total value of all cards submitted listed in the “Unsecured Debt” section of the form. At this time, it is unknown if the Estates will have enough assets to pay these unsecured claims in full, if at all.

[TheTGB]

No problem :) I thought it would help :)

[AMG]

Great info, thanks for the post.

[LakersMC]

Definitely a must read. I hope everyone reads this!!!