Who’s Sending Out Colt’s Bankruptcy Filing?

News of Colt filing for chapter 11 has been on their Wikipedia page since June, so why was an anonymous tipster sending out court filings yesterday to XBiz, Naked Sword, Queer Click, and others as if it were breaking news? To rub salt in a wound? To further damage Colt’s reputation? And who was it who sent the email? A rival studio? Most likely. One comes to mind, but I’ll spare them the embarrassment here.

The emailer (manman435@gmail.com) wrote: “The case filing shows their yearly income amounts for 2006 (3.5 Million), 2007 (2.9M) etc. How can a porn studio go bankrupt making this kind of money?” So, the implication is that he (or she) doesn’t believe Colt is really out of cash. Wow! I couldn’t care less.

Here’s a “tip”: If you want your claims taken seriously, don’t send things out anonymously, especially when it’s common knowledge within the industry who’s been “anonymously” leaking Colt news for months. Unless you’re willing to come out publicly and explain your personal grudge, stop. No one cares. Good-bye!

 

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0 thoughts on “Who’s Sending Out Colt’s Bankruptcy Filing?”

  1. ponyboy claims to know an awful lot about this case. How is that? There are a couple of rats behind all this negative publicity (vendetta) and I wouldn’t be surprised if it doesn’t turn out to be Titan Media. It smells of them. Good call Sebastian.

  2. In the August 12 Colt Bankruptcy trial in Santa Rosa, to everyone’s shock, the judge didn’t believe Tom Settle’s plan to reorganize Colt was feasible and he awarded Jim French all the tangible assets of Colt Studio. Colt’s bankruptcy has been halted. So Jim French has his company back, although probably actually retrieving it (and the website info, etc) may be the next big hurdle.

    So Settle and Rutherford owe about 2.5 million dollars to Jim French, the IRS and others. They have a new company they’ve formed called BULLDOG (but not spelled that way) which they claimed is currently worth $50 now but which would contribute $100,000 to Colt’s reorganization. The judge didn’t buy that and basically said he didn’t see any assets available to reorganize Colt. So they have lost the business. French’s lawyer said he expects Settle and Rutherford are probably planning to leave the country and skip out on all their debts.

  3. I think Mr. Webb at Titan should come out from behind his curtain! Always stirring trouble for everyone instead of just keeping his nose clean and focussing on making their product sellable. Jealous fools!

    Mr. French took 45K a month from his new buyers. That’s where all the money went! That’s not chump change and having to produce movies and stay in business probably was not easy. Greedy old man that he is!

  4. He-Who-Shall-Not-Be-Named is consumed with jealousy and envy of any legitimate websites and bloggers, so I have a hard time believing he’s responsible for sending out these missives to them. Someone with an agenda fed him this information to begin with when he ran this non-story and was greeted with universal yawns — he does no reporting of his own, he’s either fed information or he steals it. It’s well known that he’s more than happy to post anything anyone with an agenda tells him, that’s why he’s almost always WRONG about everything.

    Anyway, it sounds like whoever it was who tipped him off is still trying to get a website with an actual readership (unlike HWSNBN’s) to pick this up. And just like Zach, they could care less.

  5. Who else lives and breadths “LEGAL” threats and pot stirring? Just like the Titanic, it was unsinkable… Hum? Have I said too much?

  6. Nicoderm is my friend

    There’s only one person on the planet who is sooo obsessed with this news; and news like it. He is a sick and lonely old troll living in Quincy Ma. People keep giving him attention – so he keeps up his facade of being an important part of the industry. And that’s a shame.

    Thanks for not naming him if you are of the same belief.

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