Luken Communications Files For Bankruptcy After $47.4 Million "Fraudulent Transfer" Verdict Against

[toucan-man]

Do we get Equity back now?

http://www.chattanoogan.com/2013/6/25/254015/Luken-Communications-Files-For.aspx

 

[Anole]

Is this guy as devious as Charlie.?.?

 

[KE4EST]

Going to be very interesting to see how this goes.

 

[Tron]

I have a hard time believing anything good will come of this...

 

[primestar31]

Is this guy as devious as Charlie.?.?

How could that even be possible! lol

 

[wallyhts]

So does someone buy the whole thing in bankruptcy? Or will do the channels just go away?

http://en.wikipedia.org/wiki/Equity_Media_Holdings

 

[xtgold]

Thought it was Robert Wuhl for a second

 

[Lone Gunman]

No wonder Tripnva bailed out on them!!

 

[Scott Greczkowski]

Sad news, I got to talk with Mr. Luken a few times and he was a huge supporter of the FTA Satellite. He enjoyed reading the comments and when time permitted he loved scanning the skies himself.

 

[toucan-man]

More details here,

http://timesfreepress.com/news/2013/jun/26/luken-communications-files-bankruptcy-after-arkans/

 

[Peter Parker]

Anything can happen. Someone may want the whole thing or it may be parceled out in pieces. It is also quite likely that much of the busined wiull simply be liquidated.

 

[PopcornNMore]

Sad news!

 

[Corrado]

I admit that I haven't been watching any of the Luken channels recently, but had hopes for future improvements for programming choices. These developments do not sound positive for the FTA community.

 

[Mr Tony]

So does someone buy the whole thing in bankruptcy? Or will do the channels just go away?

http://en.wikipedia.org/wiki/Equity_Media_Holdings

Equity has been dead for years....all the channels have been sold to other companies

 

[Mr Tony]

So they're doing Chapter 11 which is just restructuring. Lots of companies do that

Luken owns a few stations
http://www.rabbitears.info/search.php?request=owner_search&owner=Digital+Networks

but did buy up a bunch of low powered stations that are off the air (alot were TBN translators that got shut off after the DTV conversion).

 

[toucan-man]

Yes, but that's a pretty big hit, as much or more than their assets.

 

[wallyhts]

Equity has been dead for years....all the channels have been sold to other companies

Yup the law suit came from bankruptcy trustee for equity.

 

[stanleyjohn]

I also hope Mr Luken will work things out! I still enjoy watching RTV but not as much as the past.If RTV and others do get sold i wonder how long before those signals get scrambled.

 

[toucan-man]

I also hope Mr Luken will work things out!

I'm not sure how he can lose.

"Henry Luken is listed as one of the creditors. The document says he is owed $17,718,127."

http://www.chattanoogan.com/2013/6/26/254015/Luken-Communications-Allowed-To-Meet.aspx

What ????

 

[DJdish]

[h=1]Luken Communications to continue business as usual as it appeals Arkansas jury verdict


http://timesfreepress.com/news/2013/jun/27/luken-to-fight-bankruptcy-verditc/
[/h]