Ocean Tomo, a part of J.S. Held, Announces Successful Conclusion of Uniform Commercial Code Disposition Sale Process to Satisfy Pow! Entertainment Debtor Obligations
Ocean Tomo Transactions, a part of J.S. Held, announces the successful completion of the Uniform Commercial Code sale process to satisfy the debt of Pow! Entertainment.
CHICAGO, May 11, 2023 /PRNewswire-PRWeb/ -- Ocean Tomo Transactions, a part of J.S. Held, announces the successful completion of the Uniform Commercial Code (UCC) public disposition sale process to satisfy the debt of POW! Entertainment. The process concluded with the debtor satisfying its obligations before the planned public auction.
On February 21, 2023, Ocean Tomo Transactions, representing secured creditor Genius Brands International, Inc., announced a public disposition of collateral of then debtor-in-default POW! Entertainment, LLC, according to its secured creditor rights under the Uniform Commercial Code. Christopher Bruce, who oversaw the process for Ocean Tomo Transactions, noted "the planned sale via a public disposition in accordance with the Uniform Commercial Code on April 21, 2023, of 250+ copyrighted and other literary works, including more than 200 works authored by the late Stan Lee, resulted in satisfaction of the outstanding debt, and is currently held by POW! Entertainment."
About Ocean Tomo Transactions, a part of J.S. Held
Ocean Tomo Transactions, a part of J.S. Held, works closely with intellectual property (IP) owners and corporations seeking to monetize high-value IP-driven businesses, IP portfolios, or proprietary technology solutions. We have closed transactions totaling more than $1 Billion in IP value realization. We have advised on IP engagements totaling over $10 Billion.
Media Contact
Kristi L Stathis, Ocean Tomo, a part of J.S. Held, + 1 773 294 4360, [email protected]
SOURCE Ocean Tomo, a part of J.S. Held
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