Worlds Most Valuable Poster Sold in Bankruptcy Court

What is thought to be the world's most valuable movie poster along with eight others sold to a film memorabilia collector for $1.2 million. The Metropolis poster by German Expressionist Heinz Schulz-Neudamm was purchased as part of a lot in a Los Angeles bankruptcy court Thursday. Schulz-Neudamm created the poster in 1927 for the German Expressionist science-fiction film of the same title by Fritz Lang. New Jersey resident Ralph DeLuca, who owns film memorabilia company Movie Archives Inc., won the bidding over three other bidders, Reuters reports. Bidding for the poster started at $700,000. "I honestly feel that the 'Metropolis' poster...

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Posted in Bankruptcy Auction , Bankruptcy Memorabilia , Metropolis Poster Bankruptcy Auction , Movie Archives

Federal Judge Allows Popular PA Ski Resort to be Sold at Auction

Scranton, PA -  A federal bankruptcy judge had the final say, allowing bankruptcy trustee Gary Seitz to solict bids for the purchase of Northwestern Pennsylvania'a Sno Mountain to satisfy its creditors. The Ski Resort's finances were a slippery slope themselves, as the resort has accumulated over $24 million dollars in debt and nearly $420,000 in tax liens. The list continues with over $400,000 due to the IRS and a bill more than double that size owed to the Commonwealth of Pennsylvania. The resort filed for Chapter 11 bankruptcy protection in October, and court records list the resort with assets of only $171,562.00. The sale...

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Posted in business bankruptcy , Chapter 11 Bankruptcy , pennsylvania bankruptcy , ski resort bankruptcy , sno mountain bankruptcy