Not sure if this has been posted..Mastro in the Chicago Tribune

[calvindog]

Tony, thanks for that. So apparently as of today, Doug Allen is the President of Ketap, formerly known as Mastro Auctions, Inc.

So why does Doug continue to say that he has nothing to do with Mastro?

[Peter_Spaeth]

Jeff, perhaps holding that office is just a technicality?

[calvindog]

Lol

[Peter_Spaeth]

The most stunning part of all this, for me, is the apparent failure to anticipate the reaction hobbyists would have to pronouncements of the sort Doug made today and previously.

[Kenny Cole]

I have tried very hard to stay out of this, but that last comment from Mr. Allen was, at best, absurd. IMO, all you have to do to see that Mastro/Legendary are the same enterprise is to be moderately literate.

Based on what I have read, if I was an unpaid consignor I would file an alter-ego/instrumentality lawsuit, allege fraud, name all of the companies, sue the principals individually, get the financials, and look forward to the depositions. I suspect they would be really ugly.

Kenny Cole

[Peter_Spaeth]

Originally Posted by Kenny Cole

I have tried very hard to stay out of this, but that last comment from Mr. Allen was, at best, absurd. IMO, all you have to do to see that Mastro/Legendary are the same enterprise is to be moderately literate.

Based on what I have read, if I was an unpaid consignor I would file an alter-ego/instrumentality lawsuit, allege fraud, name all of the companies, sue the principals individually, get the financials, and look forward to the depositions. I suspect they would be really ugly.

Kenny Cole

Doug might have to bring a couple of hats to the deposition -- white, as he is a great guy.

[Kenny Cole]

The problem with public pronouncements is that they are public and thus, easy to force-feed the deponent who, after all, is sworn to tell the truth. I have watched this cluster-f___ unravel with a fair amount of amazement at the pronouncements, both written and oral, which have been made. If I was trying to skate paying folks I owed money to, I don't think I would probably have said some of those things.

[Jay Wolt]

What if ????

OK so if Legendary is a seperate enterprise from Mastro
and Mastro now no longer exists.
What if the past people pay off their debt to Mastro?
It is said that they have hundreds of thousands outstanding from their past auctions.

Who get the dough?

I'm confused about so many issues concerning the old auction house and the new & improved one.

[Peter_Spaeth]

Jay, Mastro still exists, it just changed its name to Ketap. So in the first instance that entity would get any money collected by or paid to Mastro.

[botn]

What a great deal to get all the assets and none of the liabilities. I wanna make a deal like that.

[calvindog]

Originally Posted by Peter_Spaeth

Jay, Mastro still exists, it just changed its name to Ketap. So in the first instance that entity would get any money collected by or paid to Mastro.

Of which Doug is the President. But he claims that he's not responsible for paying any of Mastro's debts off.

[buymycards]

OK, so if Doug Allen isn't associated with Mastro, why did he keep "some of Mastro's records"? He just happened to have the record of the consigner that was owed $1800?

Why would he have access to any of Mastro's records? Why would Mastro let him have these records?

I wonder who signed the check.

[WarHoundR69]

Sorta like Mastro & Dave Forman, which is happening now, and not back in the 90's.