Quote:
Originally Posted by Profits of Doom
It sounds like they know they are going to fold operations in the near future and plan on including the contest winnings and model fees in the bankruptcy. I can tell you that as of around March 2006, when I was still running adult bookstores, that Gallery sales were practically non-existent. If we got 50 copies of it in each month we would have to return 49 of them to the vendor for credit. Even though the owners are rich from their other ventures they probably have Gallery tucked away under a separate business entity, so if they do fold they can file bankruptcy and you won't be able to collect anything. If you are going to do something I would do it soon just in case. Between 2004-2006 I can think of at least 20 formerly popular adult magazines that disappeared into the night...
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As long as we file prior to or after they file bankruptcy as a creditor or debtor we will be included in any funds distributed in perportion to the total assets collected by the trustee. Whatever they can find will be given to each creditor as a percentage of the total outstanding debt owed to all entities.
So a class action suit would be a larger percentage of the total funds conviscated then if we all file individually. I would be interested in any attorney willing to help all of the models and photographers who got screwed and do this together!
There is power in numbers!
Hit me up if you are interested in being part of the lawsuit?
Thanks for your input!