Phil von Kahle, Executive Vice President with Michael Moecker & Associates, a leading firm in Florida providing insolvency and bankruptcy services, has successfully sold the assets of Mia TV LLC, a Spanish television station, who had filed an Assignment for the Benefit of Creditors on January 8, 2016 where von Kahle was appointed as Assignee. Von Kahle successfully operated the company, retained as many as 30 employees and has sold the assets to Anzoategui TV, Corp. for $2,075,000. The transaction closed in the 11th Judicial Circuit in Miami-Dade County on April 5, 2016.
“Our strategy was to stabilize the business, reduce expenses and maximize the existing assets and their value for creditors,” said Phil von Kahle, Executive Vice President of Michael Moecker & Associates. “After the span of only two months, we attracted several potential buyers, saved many local jobs and increased the value of the assets which resulted in a successful sale of the business.”
The attorneys involved in this matter were: Jason Jones, Jones Law Group who represented the Assignee; Diane Wells, Wells & Wells Law who represented the secured creditor, HMS Advertising and Promotions, Inc.; and Leyza Blanco and Fernando Menendez with GrayRobinson who represented the buyer.
Judge John Thornton, a Complex Business Litigation Judge for Miami Dade County Circuit Court, is presiding over Assignment for the Benefit of Creditors (Assignment) case for MIA TV LLC. An Assignment under Florida Statute 727 is a flexible alternative to bankruptcy liquidations of corporate debtors.
Philip von Kahle has extensive expertise handling complex insolvency matters including Dade Medical College, Estate of Victor Posner and Bernard L. Madoff feeder funds. His experience as an Assignee helps govern the flexibility of each case that are in business liquidation usually resulting in a greater return than that of a bankruptcy Chapter 7 case.
Founded in 1993, Michael Moecker & Associates is the leading Florida firm specializing in providing investors, bank officers, shareholders, creditors and attorneys with the successful resolution of insolvency, bankruptcy and liquidation matters with offices in Fort Lauderdale, Orlando, Tampa and Jacksonville. The firm offers alternatives to bankruptcy and insolvency such as Assignment for the Benefit of Creditors (Florida Statute 727), Court Appointed Receivers, Custodian, Liquidating Trustee, Bankruptcy Court Examiner, Plan Administrator and out of court Workout Services. For additional information, visit www.moecker.com.