Posted By:
boxingcardmanI know a number of consignors to past Mastro auctions who are owed considerable money for months now. They are getting no answer on the phone when trying to contact Mastro. Doesn't look confidence inspiring.
If the asset sales deals I've been attacking lately as fraudulent transfers are any indicator, the goal of the transfer is to leave all of the liabilities and obligations with the dead shell and start fresh. Normally that would mean that the purchaser obtains only enumerated assets and leaves the rest behind. Whether the book of future auction consignments is assignable and has been assigned is a good question. You would have to check your Mastro contract to see if they could assign your consignment to another entity. On the older ones I had I did not see anything allowing for or disallowing assignment. Any IL attorneys could better explain those issues.
Given the way all this went down, I would not consign them a 1993 Donruss set...except with a big cash advance.
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