"The U.S. Bankruptcy Court for the District of Nevada has granted a motion from the region’s federal trustee to cut the time needed for her to appoint a Chapter 11 trustee for Royce International Broadcasting. "
-
Get involved.
We want your input!
Apply for Membership and join the conversations about everything related to broadcasting.
After we receive your registration, a moderator will review it. After your registration is approved, you will be permitted to post.
If you use a disposable or false email address, your registration will be rejected.
After your membership is approved, please take a minute to tell us a little bit about yourself.
https://www.radiodiscussions.com/forums/introduce-yourself.1088/
Thanks in advance and have fun!
RadioDiscussions Administrators
Royce International saga, update
- Thread starter leethalweapon
- Start date
Ed Stolz got his chance this time last year. The only station he really did anything good with was 92.7. The Las Vegas and Palm Springs stations are still running the conservative talk programming no one listens to. It’s like he’s trying to lose money from the stations. It would cost less if they went silent.
VCY's offer of $4.5m for Crazy Ed's trio of FM's would satisfy secured creditors' claims - a fact not missed by the court. Meanwhile his Looney Toons broker claims the SF and Las Vegas FM's are valued at $15m each. And if you believe that, you'll also believe Crazy Ed's AM in Vegas can fetch $5m. So now it's on to Trustee #2, and most likely more time delaying tactics. Chapter 7 remains the only option to stop this March Madness.
Can Ed afford to pay a bankruptcy lawyer?
You bring up a question of how much money Ed has that he will spend on this. Otherwise, he is insulated from liability by having those stations and operations in corporations where he is not personally responsible.
Thanks for explaining
He said in court that he hasn’t had a lawyer since November
Ed Stolz went to jail in 2021. So he’s not entirely insulated from personal liability
But wasn't that for not following a court order? That is criminal behavior, not part of the actual case.
He probably can afford to pay, BUT Crazy Ed doesn't like writing checks. The attorneys who represented him in the music licensing brouhaha have a claim before the court to the tune of $1.5m.
Holy guacamole
I'm pretty sure Ed *is* a lawyer.
I could be wrong.
First time for everything...🙄
Ed at his law school graduation:
Attachments
Even Ed's mostly dead-air format is better than what's likely to take over.
KBET and K276GX are currently silent
We should soon get some kind of result from KREV. I do believe they will be sold and I do believe its going to VCY America...the company is growing real fast...
It is not a company, it is Ministry and has been tax exempt since 1972.
And ministries, for the most part, are incorporated as non-profit entities and, thus, are technically "companies" as the founders/directors (as opposed to shareholders) have limited liability. Note that it's organizational name is "VCY America, Inc."
From their own website:
About VCY America
VCY America seeks to advance the gospel thru every legitimate means. The history of VCY has been described as God’s Continuing Miracle. Among our ministries, most people are familia…
www.vcyamerica.org
- Status