am ORIGINAL 23) 24) 25] 26) 27) 28} MARTIN J. BRILL (State Bar No. CRAIG M. RANKIN (State Bar No. DAVID B. GOLUBCHIK (State Bar LEVENE, NEALE, BENDER, RANKIN 1801 Avenue of the Stars, Los Angeles, Telephone: Facsimil 229-1234 229-1244 (310) (310) Attorneys for Chapter 11 Debtors and Debt Suite 1120 California 90067 53220) 169844) No. 185520) & BRILL L.L.P rs in Possession UNITED STATES BANKRUPTCY COURT CENTRAL DISTRICT OF CALIFORNIA (SAN FERNANDO VALLEY DIVISION) In re STAN LEE MEDIA, INC., a Delaware corporation, and STAN LEE MEDIA, INC., a Colorado corporation, Debtors and Debtors in Possession Affects Both Debtors Affects Stan Lee Media, Inc., a Delaware corporation, only __ Affects Stan Lee Media, Inc., a Colorado corporation, only ws wt wy wy 7 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) CASE NO. SV-01-11329-KL Chapter 11 (Jointly Administered with Case No, $V-01-11331-KL) NOTICE OF MOTION AND MOTION FOR ORDER TO APPROVE SALE OF ASSETS FREE AND CLEAR OF LIENS; MEMORANDUM OF POINTS = AND. AUTHORITIES; DECLARATION OF KENNETH S$. WILLIAMS IN SUPPORT ‘THEREOF Date: vanuary 8, 2002 Time: 10:00 a.m. Place: Courtroom "301" 21041 Burbank Blvd. Woodland Hills, CA 59 FoR 033644 eam ee 10 11 12 13 14] 15 16 17 18} 19) 20) 21 22 23 24] 26 27] 28 ir MEMORANDUM OF’ POINTS AND AUTHORITIES . STATEMENT OF FACTS .... AL B. c. Zon Table of Contents BACKGROUND... Rexanrowsuze WITH STAN LEE... ‘Tx DEBTORS’ CREATIVE ASSETS. .. Produced Properties: .. Co-Brands Produced: ....... Co-Brands In Development: .. Developed Deals: ..... pete Other Projects (Undeveloped; Debtors acting as agent for assets only): .... 6. - All trademarks, copyrights, original artwork and Promotional material relating to the foregoing Creative Assets. ......-..+5 8 MARKETING OF THE CREATIVE ASSETS... ... 8 ‘THE Asser PURCHASE AGREEMENT . og nate) 1. All cash, bank deposits and/or cash equivalents of he Debtors. .... beecouoodped 2. All of the Debtors" office equipment, and servers. ........ 50 3. Claims, lawsuits and causes of action of the Debtorseeerree tte 4. ° Tax refunds and tax attributes. 213 5. Claims for relief under any of the avoiding powers provided for under Chapter 5 of the Bankruptcy Code. 13 6. All books and records of the Debtors that do not relate to the Assets. 13 The Debtors’ corporate charter or qualifications to conduct business as a corporation, arrangements with registered agents relating to foreign qualifications, taxpayer and other identification numbers, seals, minute books, transfer books, and other documents relating he organization, maintenance, and existence of the Debtors as @ corporation; or any of the rights of the Debtors under this Agreement. goo) 8. The Debtors’ interest in Conan Properties, Inc. and any rights or interests, including intellectual property rights, and interests in any of the properties and assets of CPl. . peerial 9. Stan Lee Presents: - 214 10, Stan's Soapbox; and... 14 11. Stan Lee & Design. .... eee eel ‘Tue SALE Is IN THE Best INTEREST OF THE ESTATES. .. peed PROJECTED DISTRIBUTION BASEO ON $4 MriLTON Tora RETURN. ..... 15 PROJECTED DISTRIBUTION BASED ON $7 MILLTON TovaL RETURN. ..... 16 03365eooewrane ene 10) 12) 13 14 15) 16) 17 18) 19} 20) 21) 23) 24 26] 27] 23 nr. Err DISCUSSION .......0.s0ee00e Boer ee A, ‘Tae, Court Snoutn APPROVE THE DEBTORS’ PROPOSED ASSET SALE TO PURCHASER PURSUANT To SECTION 363(B) OF THE BANKRUPTCY CODE... 17 1. Sound Business Purpose .. E 2. Accurate and Reasonable Notice . 3. Fair and Reasonable Price ...... 4. Good Faith . pee : B. — Sectrow 363(r) oF rue Baimaupxcy Cope Prmutzs 1m DzBfORS” SALE OF THEIR ASSETS TO PURCHASER 70 BE FREE AND CLEAR OF ALL Ingenzsts . Bo : ec pe 26 1. The Proposed Asset Sale is Permissible Pursuant to 11 U.S.C, Section 363(f) (2). ... 27 2. The Proposed Asset Sale is Permissible Pursuant to 11 U.S.C. Section 363(£) (3). + 28 CONCLUSION . . ee - 29 03366