Mastro/Legendary Article in Today's NY Daily News

[Peter_Spaeth]

If Mastro did indeed "sell" assets to Legendary, as opposed to it being a paper transfer by Silk Road, then what consideration did Mastro receive from Legendary? If none, or if insufficient, fraudulent conveyance laws could come into play -- a transfer for less than fair value that leaves the transferor unable to pay its creditors in the ordinary course.

If the intent was to have Bill step out of the picture, then why not just rename the enterprise and say that Bill had left? The fact that it was not done this way, but was done through creation of a new entity that is now expressly disclaiming the liabilities of the old even though it acquired its assets, certainly raises questions.