T.T.O.S Canadian Division
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 Click for 'Canadian Flyer' Newletters Red=Meetings Gold=Shows | T he K-Line bankruptcy continues to generate a lot of legal documents, rumors and speculation that can only be weighed in verbal tonnage and lawyer’s fees. That’s why I want to set the record straight in plain English.Jerry Calabrese, Lionel’s chief executive officer, announced on Feb. 16 that the deal with Sanda Kan was complete other than the final documentation of the agreement. Sanda Kan is K-Line’s principal creditor.Pending only the final documentation of our agreement with Sanda Kan, K-Line’s main manufacturer and principal creditor, Lionel will take control of the K-Line brand, its tooling, its inventory of unsold products, and everything else that lawyers and accountants call, “assets.” As soon as we can straighten things out and get organized, Lionel will make new products under the K-Line brand, and market and sell those products as part of the Lionel line. For those of you who have paid for but not received K-Line club products, Lionel is going to make good on your orders. It may take us a little time to sort things out, but I believe giving people what they’ve already paid for is the right thing to do, even though we will be doing so at our own expense. It’s also an important step in rebuilding the K-Line brand and demonstrating Lionel’s long term commitment to K-Line’s fans. It’s too early to lay out the exact details of how everything will be done in the incorporation of K-Line into Lionel, but we’re working on it and expect a reasonably smooth transition. |
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