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In Nov. 2012, Seattle U.S. District Judge Robert Lasnik had ruled that 'Godfather of Funk' George Clinton must cede the copyrights to the master recordings of four Fundadelic albums released by Warner Bros. between 1976 and 1981 ' Hardcore Jollies, One Nation Under a Groove, Uncle Jam Wants You and The Electric Spanking of War Babies ' to Seattle-based Hendricks & Lewis to make good on more than $1.5 million in unpaid legal fees. Hendricks & Lewis v. Clinton, C12-0841 (W.D.Wash. 2012). Hendricks & Lewis, which is being represented in its efforts to collect the unpaid tab by Davis Wright Tremaine, racked up at least some of those bills helping the 1997 Rock and Roll Hall of Fame inductee to win control of those copyrights in the first place.
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There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
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