FR EXCLUSIVE: Spiderman Stan Lee and POW! Entertainment Sued in Fed Court re Bankruptcy Illegalities

NOTE: this is an incredible story. Shining the light on this bankruptcy case will shine more light on the Clintons. The case was filed today at 5pm in Federal District Court in Los Angeles.

Spider Man Creator Stan Lee and POW! Entertainment (POWN) Sued by Stan Lee Media for Illegalities In Bankruptcy Transfers

Federal Lawsuit filed Monday by Stan Lee Media in Los Angeles Details Frauds by SpiderMan Creator Lee in Taking Assets from Bankruptcy Estate to Launch New Public Company Owned and Operated by Lee and SLM Insiders

LOS ANGELES July 9, 2007 -- The company that was founded by Spider Man creator Stan Lee in 1999 and saved from attempted legal annihilation by Lee in November 2006 by Wall Street whistleblower James Nesfield has today filed suit against Lee and his new public company POW Entertainment for illegal transfers of assets from the Estate in Bankruptcy along with other allegations of serious wrongdoing.

8.defendants have conspired to commit and have otherwise engaged in acts of fraud upon plaintiff, plaintiff’s shareholders, plaintiff’s creditors and the United States Bankruptcy Court for the Central District of California.

9.defendant Stan Lee with the help of other insiders (Gil Champion and Arthur Lieberman)founded two new companies named POW! And QED in or about November 2001. Thereafter, Stan Lee proceeded illegally to transfer substantial assets of plaintiff into QED and POW!, all while plaintiff was in bankruptcy and while Stan Lee should have been protecting plaintiff’s assets from misappropriation. The acts of Stan Lee and his newly formed companies were perpetrated with the specific intent to (a) mislead the Bankruptcy Court, (B) violate express orders of the Bankruptcy court, and (c) loot and defraud plaintiff and plaintiff’s shareholders and creditors for defendants’ personal financial gain.

18. The October 151998 Employment/Rights Agreement from Stan Lee included an assignment in favor of Stan Lee Entertainment Inc., which stated in pertinent part: “I [Stan Lee] assign, convey and grant to [Stan Lee Entertainment Inc.] forever all right, title and interest I may have or control now or in the future in the following: Any and all ideas, names, titles, characters, symbols, logos, designs, likenesses, visual representations, artwork, stories, plots, scripts, episodes, literary property and the conceptual universe related thereto, including my name and likeness (the ‘Property’) which will or have been in whole or part disclosed in writing to.published merchandised, advertised and/or licensed by [Stan Lee Entertainment Inc.]its affiliates and successors in interest and licensees (which by agreement inures to [Stan Lee Entertainment Inc.’s] benefit) or any of them and any copyrights, trademarks, statutory rights, common law, goodwill, moral rights and any other rights whatsoever in the Property in any and all media and/or fields, including all rights to renewal or extensions of copyright and make applications or institute suits therefore (the ‘Rights’). ” Plaintiff is currently the rightful owner and holder of all rights and assets set forth in the October 15, 1998 Agreement as plaintiff is the ultimate successor in interest to Stan Lee Entertainment Inc.a Delaware corporation.

25.Since October 15, 1998, the October 15, 1998 Agreement has never been terminated and remains in full force and effect.

26. The October 15, 1998 Agreement was recorded by plaintiff on or about November 28, 2006 with the United States Copyright Office. (and has not been challenged)

The claim includes rights to ownership of all creations of Stan Lee since he left SLM: K) including but not limited to everything he has worked on while affiliated with defendants POW! And QED.

76. Contrary to plaintiff’s ownership rights to same the defendants have used, marketed, licensed, merchandised, promoted, advertised and otherwise exploited the Assets for their own financial benefit and without the participation, authority and consent of plaintiff. Defendants have used or licensed Stan Lee’s name and/or likeness in conjunction with their efforts.

82. On or about December 13, 2005, the defendant POW! issued a press release containing false and misleading factual information which clearly demonstrates its intent as well as the intent of the other defendants to assert control and ownership over the Assets and Properties as well as the name and likeness of Stan Lee to the exclusion of the plaintiff: “Los Angeles, CA , December 13, 2005- POW! Entertainment (PK: POWN)has announced that POW! Entertainment acquired the exclusive rights and ownership in perpetuity to the name “Stan Lee” ...

This lawsuit is being filed by famed Los Angeles litigator Pierce O'Donnell and managed by Sean Sheppard of the Andersen Firm in Florida.

About Stan Lee Media: Stan Lee Media can be found on the World Wide Web at http://WWW.stanleemedia.net

Stan Lee Media, founded by Stan Lee in October 1998 to build an Internet based Super Hero creation and production studio in Hollywood, emerged from Chapter 11 bankruptcy protection on December 6, 2006 under the control of Wall Street whistleblower James Nesfield. The law suit, filed against Marvel on March 15, 2007 and now against Stan Lee et al, resulted from a rigorous legal review and forensic analysis of all rights, assets and claims that survived Stan Lee Media's six year bankruptcy proceedings as remaining assets of the company.

Mr. Nesfield became identified on 60 Minutes and in his testimony before the U.S. Senate as the whistle blower who exposed the biggest Wall Street fraud in history, the trillion dollar Mutual Fund Market Timing Scandal. Mr. Nesfield followed Stan Lee Media since its inception as a high flying NASDQ dot Com company during its publicized run up to a $350 million market cap in February 2000 and its flame out in December 2000, when its third death spiral convertible financing was announced on November 30, 2000.

After Stan Lee Media filed for Chapter 11 Bankruptcy protection in Los Angeles in February 2001, Mr. Nesfield followed the actions by the Debtor in Possession management directed by Stan Lee, noting that the bulk of the company's assets were hidden and/or transferred indirectly to a new public company, POW Entertainment, created by Stan Lee and other Stan Lee Media insiders Gil Champion and Arthur Lieberman.

Mr. Nesfiled determined that the Primary Asset of the company, all of Stan Lee's Intellectual Property rights, had remained with the company when it was dismissed for cause as warranted by the US Trustee Jennifer Braun. When the company reverted to the control of shareholders, Nesfield became President and Chairman of the revived company.

After rigorous legal review of all the actions taken by or on behalf of the company since its inception, Mr. Nesfield confirmed that, among the Intellectual Property rights that Stan Lee assigned to capitalize his new company in October 1998, were all of his co-creator's rights to his Marvel creations. After Stan Lee's lifetime exclusive employment contract with Marvel was voided during Marvel's Chapter 11 Bankruptcy proceedings in 1998, all of Stan Lee's rights reverted back to him. When Lee gave everything he owned in the "creative universe" as of October 15, 1998 to his new company it included Lee's 50% ownership interest in the largest entertainment franchises in the industry.

Don’t burn them! Sell them and give the money to FR. I don’t have a problem with Lee being of a different political persuasion. He did great work with noble heroes that inspired kids everywhere. That is a good thing. I have no reasonable explanation why he got involved in this mess.

What is really so sad about all of this is that Stan Lee Media should have been a mega company worldwide. It was perfectly positioned. Stan had been named as a Master Creator, honored in China, and given certain business advantages possessed by no other entertainment company in the world.

Japanese business partner Tendo Oto had already invested 5 mil for the Japanese joint venture and promised another 5 mil in November 2000 for the American joint venture.

A former president was set to come aboard when he left the White House. He would have raised an incredible amount of money for the company, and the stock would have gone through the roof.

Unfortunately, six days after the witch was elected, the Clintons’ agent, Jim Levin, who had used proprietary information he gained from inside SLM offices, recorded an agreement with Oto in Illinois for himself and silent partner Clinton. When Oto’s money didn’t come in as promised, the company collapsed. Peter tried to save the stock by buying shares at the end of the day to keep the price up. He gave a guilty plea for that stock manipulation.

So far, the Clintons have been off the hook. But it’s not over until it’s over.

As the press looks at this case and the bankruptcy, perhaps they will finally see the slimy fingerprints of the Clintons. Jim McDougal said it. Paraphrased — the Clintons are like a tornado that sweeps through people’s lives and leaves destruction in its wake.

"Meeting Peter as I stepped off the plane ? Why to discuss why I probably wont go into private business with him.

That doesn't mean we wouldn't accept his political donations."

It also gives Chelsea an "out" as far as hillary setting her up for perjury in the paul case.

IMO, the Lee banckcupcy action wont see light of day for a long time.

When it does, the Clintons are going to hit this thing head on, if they're called in the Lee bankruptcy scam. They can't afford to weasel, it kills 'em. It will boil down to he said-he said.

They had publicly disavowed him as a felon and pretended they were shocked at what they discovered he had done. They publicly said, through their lying weasel Wolfson, that they would take no money from him. No, there is no one reason that, after such conduct, the President of the United States would meet with him. He assured Peter that they still had a deal. Peter sent another 55K to the Working Families Party in NY for her.

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