Home > News > Creditors Release Preliminary List of JKP Assets • Bookmark   • Newsletters   • Register Search Options


Creditors Release Preliminary List of JKP Assets

Creditors Release Preliminary List of JKP Assets
Get XBIZ News
Mar 22, 2006 3:00 PM PST    Text size: 
WOODLAND HILLS, Calif. — A designated group of unsecured creditors in the Jill Kelly Productions bankruptcy case has released a preliminary list of the company’s assets that will be put up for auction on April 17 in a Woodland Hills courtroom.

The committee’s attorney, Aram Ordubegian, said his office has received numerous requests for information of specific assets that will be available at the auction, and although the final, comprehensive list will come from JKP itself, the creditors “scoured the various asset lists prepared by JKP” in an effort to assemble a “second best” list.

Though it is impossible to assign a specific monetary value to them, the company’s substantial library of packaged DVDs represents the greatest asset.

An inventory spreadsheet shows a total of 207,767 burned and packaged DVDs, with more than 500 titles ranging from a single copy of the original production “Tyler’s Crazy Horny” to 2,112 copies of “Stone of Pleasure” from European studio Blu Pictures, which had been distributed in the U.S. by JKP production arm, JK Distribution.

There are another 65 unreleased masters in various formats including Betacam, DVD and DV cam, some with multiple softcore, hardcore, X and double-X versions.

The DVDs, masters and the rights to use the JK Distribution name all will be awarded to the highest bidder along with several hundred thousand dollars in accounts receivables. Among the larger accounts due the company are $67,275 from adult retailer Doctor Johns, $62,500 from British company Broadcasting Ltd. and $24,927 from Bayside Distribution.

On the other side of the ledger are JKP’s substantial debts. The company lists 85 creditors, with more than $3 million in liabilities, including a $400,000 Internal Revenue Service tax claim. The company’s largest and only secured creditor, XGen, is first in line to be paid with proceeds from the auction and also has been offered the opening bid of $700,000.

XGen is owned by Michael and Frank Koretsy, who also own Pleasure Productions. If no one outbids XGen, the Koretsky’s will effectively take control of JKP.

More ways to get XBIZ News:  RSS Feeds  |  E-Newsletters  |  Desktop Widget  |  Mobile
Looking for porn star news and behind-the-scene videos? Check out XFANZ.com !


Pleasure Product Manufacturers Talk Global Strategies for Success

From branding to shipping, companies with international reach talk to XBIZ about how to appeal to consumers worldwide. At LELO, trade marketing manager Zabrina Law says there is not a lot of variation... More »

E.U. Sex Toy Brands Bolster U.S. Market With Innovation

Europeans are living the American dream. Five weeks of paid vacation, government-funded medicine and education, and a healthier approach to sexual wellness are commonplace for our cousins across the ocean.... More »

2016 Focus on Europe: Ad Networks

If there’s one thing that every internet-based business needs, it’s traffic — that flow of visitors that drives ecommerce, education, social interaction and more. Today, that traffic... More »
Stay informed of the latest industry developments. Get XBIZ newsletters delivered to your inbox. Subscribe today!
Enter email address:

* To manage existing subscriptions click here.

Submit your press release to
multiple news outlets with 1 click.
Subscribe to RSS news feeds or
add free content to your website.
Access XBIZ news and articles
with your mobile device.
Subscribe to XBIZ World magazine, the industry's leading e-commerce trade publication, delivering in-depth coverage of the online, mobile and ancillary digital markets.



Nov 04 - Nov 06
Edison, New Jersey

2016 Inked Awards

Nov 05 - Nov 05
Edison, New Jersey

XBIZ 2017

Jan 09 - Jan 13
Hollywood, CA

XBIZ Awards 2017

Jan 12 - Jan 12
Los Angeles, CA
Everyday thousands of business professionals browse XBIZ's industry directory for quality products and services. Not listed yet? Your company could be losing potential new business. Submit your company today!
Use XBIZ RSS feeds to stay informed of the latest industry developments or as a content syndication tool for your website!