Delta Entertainment Corporation
Delta Entertainment Corporation, based in Los Angeles, California, was a major supplier of music and video products. The company filed for bankruptcy in 2007.
History
Delta Entertainment Corporation released music under the labels of LaserLight Digital,
Delta Entertainment's Chapter 11 filing had been preceded by a lawsuit, commenced in 2003, against the Harry Fox Agency, which at that time had ceased to issue any further licenses to Delta Entertainment. The two parties disputed amounts owed to each other. The Harry Fox Agency, based on an audit of the 1991-1997 period, claimed $15 million in unpaid royalties from Delta. The audit had commenced in 1996, and took four years to complete. Of the $15 million claimed, only $2 million represented allegedly unpaid royalties discovered through the audit. $6.1 million of the balance of the claim was "extrapolated" from what was found. In addition, $5.5 million in interest was claimed. Delta had countered with its own audit, whereby it contended that it had overpaid the Harry Fox Agency by over $1 million during the period under review.[4]
References
- ^ Delta music label summary; www.allrecordlabels.com.
- ^ Delta Entertainment Linkedin Profile; www.linkedin.com.
- ^ Delta Entertainment Disclosure Statement, describing plan of liquidation, June, 2008; www.kccllc.net.
- ^ a b Uncredited, Delta Entertainment retains Barry Cappello in lawsuit against the Harry Fox Agency. Business Wire, March 25, 2003; www.allbusiness.com.
- ^ Report of Creditors' Committee; www.kccllc.net.
- ^ Bankruptcy Sales Listings Archived 2011-09-10 at the Wayback Machine; www.bkinvesting.com. Retrieved 09-01-09.