4kids to keep yugioh license
I still have to post the post-fanime journal but this is important:
DO NOT BASH 4KIDS IN THE COMMENTS PLEASE
http://www.animenewsnetwork.com/news/2011-06-02/judge-orders-hold-on-u.s-yu-gi-oh-anime-license
The result of the May 31st trial was that 4kids can hold onto the Yugioh franchise from the 2001 and 2008 contracts due to "automatic stay" which is from what I understand that when a company files for chapter 11 bankruptcy, they are protected from their creditors from taking assets from them until they can restructure, unless the court finds a good reason for the creditor from taking assets owed.
Remember, this trial only judged that the automatic stay prevented NAS/TV Tokyo from trying to license ZEXAL to someone else, but what still has to be determined:
1. If the termination of the 2008 yugioh contract was valid
2. if 4kids owes ADK (TV Tokyo + NAS) money, and if so how much
So for now 4kids can keep dubbing/subbing 5D's
Idk about GX though :/
If you guys want, while looking for case-related articles I came across what looks like the depositions from 4kids and ADK
4kids http://www.scribd.com/doc/55738301/Automatic-Stay (asking for Automatic Stay)
Interesting facts:
" the Yu-Gi-Oh! license -which accounts for approximately 40% of 4Kids’ revenues. " that's... sad...
ADK http://www.scribd.com/doc/55738394/adk (asking for money owed/contract termination)
Interesting facts:
From this 4kids seemed to work with funimation and majestco for release of yugioh on home media but listed it as "other expense" instead of the proper term and basically hid money owed.
it seems 4kids was hiding the "Funimation Service Agreement" as "Service Fee" to dodge paying NAS/TV Tokyo their agreed 50/50 profits and only when the Auditor noticed something was wrong in 2008 did 4kids have to cough up this *surprise secret* agreement w/Funimation.
"74. around January 2009, 4Kids entered into an agreement with a toy manufacturing company Playmates Toys Inc. to manufacture toys based on the YGO series. Playmates did not perform well under that agreement and asked 4Kids if it could terminate the agreement. In or around January 2011, 4Kids agreed to allow Playmates to terminate the agreement in return for a payment of $200,000, of which, Plantiffs (ADK/NAS/TV Tokyo) should have received half that amount. Thus 4Kids owes, but has not yet paid, Plantiffs $100,000. "
- Playmates made the 5D's toys
- This would explain why Jack Atlas, figure reader was never released, as well as why Yusei's Duel Disk never were released in the US (but were in the EU)
TL;DR
- 4kids can still work on 5D's
- TV Tokyo/NAS cannot exhibit ZEXAL/try to get someone else to dub/license it... yet
- future court cases to determine if the termination of the 2008 Yugioh contract was valid and also if and how much money 4kids owes
DO NOT BASH 4KIDS IN THE COMMENTS PLEASE
http://www.animenewsnetwork.com/news/2011-06-02/judge-orders-hold-on-u.s-yu-gi-oh-anime-license
The result of the May 31st trial was that 4kids can hold onto the Yugioh franchise from the 2001 and 2008 contracts due to "automatic stay" which is from what I understand that when a company files for chapter 11 bankruptcy, they are protected from their creditors from taking assets from them until they can restructure, unless the court finds a good reason for the creditor from taking assets owed.
Remember, this trial only judged that the automatic stay prevented NAS/TV Tokyo from trying to license ZEXAL to someone else, but what still has to be determined:
1. If the termination of the 2008 yugioh contract was valid
2. if 4kids owes ADK (TV Tokyo + NAS) money, and if so how much
So for now 4kids can keep dubbing/subbing 5D's
Idk about GX though :/
If you guys want, while looking for case-related articles I came across what looks like the depositions from 4kids and ADK
4kids http://www.scribd.com/doc/55738301/Automatic-Stay (asking for Automatic Stay)
Interesting facts:
" the Yu-Gi-Oh! license -which accounts for approximately 40% of 4Kids’ revenues. " that's... sad...
ADK http://www.scribd.com/doc/55738394/adk (asking for money owed/contract termination)
Interesting facts:
From this 4kids seemed to work with funimation and majestco for release of yugioh on home media but listed it as "other expense" instead of the proper term and basically hid money owed.
it seems 4kids was hiding the "Funimation Service Agreement" as "Service Fee" to dodge paying NAS/TV Tokyo their agreed 50/50 profits and only when the Auditor noticed something was wrong in 2008 did 4kids have to cough up this *surprise secret* agreement w/Funimation.
"74. around January 2009, 4Kids entered into an agreement with a toy manufacturing company Playmates Toys Inc. to manufacture toys based on the YGO series. Playmates did not perform well under that agreement and asked 4Kids if it could terminate the agreement. In or around January 2011, 4Kids agreed to allow Playmates to terminate the agreement in return for a payment of $200,000, of which, Plantiffs (ADK/NAS/TV Tokyo) should have received half that amount. Thus 4Kids owes, but has not yet paid, Plantiffs $100,000. "
- Playmates made the 5D's toys
- This would explain why Jack Atlas, figure reader was never released, as well as why Yusei's Duel Disk never were released in the US (but were in the EU)
TL;DR
- 4kids can still work on 5D's
- TV Tokyo/NAS cannot exhibit ZEXAL/try to get someone else to dub/license it... yet
- future court cases to determine if the termination of the 2008 Yugioh contract was valid and also if and how much money 4kids owes