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It’s been about 2 months since I have written anything substantive about the Lionel MTH Trade secrets case or about the status of Lionel’s bankruptcy. That’s because there was little going on in the proceedings during this period of time. As you may recall, on August 13, MTH filed an appeal concerning Judge Lifland’s August 2 rulings in favor of Lionel. On August 2, Judge Lifland ruled that any future trial (the Bankruptcy Code 502(c) damages estimation hearing) in the trade secrets case would be held before him, instead of in the Federal District Court in Detroit Michigan, and granted a fifth extension of time to Lionel to file an exclusive bankruptcy plan with the court. MTH had opposed Lionel’s motion for exclusivity and proposed three alternative plans which were rebuffed by Judge Lifland.

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Continue to read Lionel And MTH Making Progress In Trade Secrets Case By Erol Gurcan

Model train author Paul V. Ambrose has sued the national Train Collector’s Association (TCA) and also its Eastern Division, the entity that hosts the yearly York meets in April and October. Although there was a lot of discussion about the lawsuit, little was said about the basis and details of it.

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Continue to read Model Train Author Paul V. Ambrose Sues Train Collectors Association by Erol Gurcan

Attorneys for both MTH and Lionel were back in a New York Bankruptcy Court on July 10th. Both MTH’s Mike Wolf and Lionel’s Jerry Calabrese were present. I was present for part of the day.

On the docket were several items, including Lionel’s motions seeking court approval to pay its lawyers and accountants etc. the fees earned between January 1, 2007 to April 30, 2007. These motions were unopposed. Judge Lifland approved all of them and entered an order to that effect.

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Continue to read MTH Lionel Update: Parties In Settlement Talks by Erol Gurcan

In my last article, I summarized that Lionel and MTH were in court on June 27th, with Lionel’s attorneys were attempting to convince Bankruptcy Judge Burton Lifland that he should try the trade secrets and separate $17.5 million dollar patent infringement case to expedite their exit from bankruptcy. MTH’s attorneys had cross-moved to send the trade secrets case back for trial to the Federal District Court in Michigan, the court where a jury awarded them $40.7 million dollars in June 2004.

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Continue to read MTH Proposes Alternative Reorganization Plans To Bankruptcy Court by Erol Gurcan

Lionel and MTH’s attorneys were back in a New York bankruptcy court on June 27th before Judge Burton Lifland. Interestingly, the courtroom was crowded since a lot was potentially riding on the hearing. Lionel’s CEO and President Jerry Calabrese, and Chief Financial Officer Scott Turkington were present in court. They were scheduled to testify and later did. More about that later. Mrs. Martin Davis was present as well. MTH’s Mike Wolf was not.

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Continue to read Bankruptcy Court Judge Begins Hearing Motions on Future Trial Venue by Erol Gurcan

In my last article, I stated that Lionel’s motion for the damages estimation hearing (which would actually be a trial on this issues of potential liability and damages in the trade secrets case) and MTH’s cross-motion to have the trial take place in the Federal District Court in Michigan (the court where the jury awarded MTH $40.7 million dollars on June 7, 2004) were scheduled to be heard in the New York Bankruptcy Court today. However, both motions were adjourned to June 27, 2007. Thus, nothing occurred in court today on this matter.

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Continue to read Lionel and MTH Motions Adjourned to June 27:Lionel Looses "http://ogaugewatch.com/2007/06/lionel_and_mth_.html#more-212" .25 million in May by Erol Gurcan