‘Yu-Gi-Oh!’ Distributor Gets $8 Million, Retains Distribution Rights in Legal Settlement
4Kids Entertainment, a US distributor of Japanese kids animation (including TV series Yu-Gi-Oh!) recently received an $8 million settlement and retained distribution rights, after successfully battling accounting charges brought by Yu-Gi-Oh!’s creators.
According to Partner Paul Llewellyn and the rest of the Kaye Scholer lawyers representing 4Kids in this matter, "The settlement provides much needed liquidity and lifts the cloud on title on the Debtors’ most significant asset, the Yu-Gi-Oh! license, thus greatly improving the Debtors’ reorganization prospects.”
Kaye Scholer’s winning legal team consisted of Special Counsel Fred Yerman, Partner Paul Llewellyn, and associates Jessica Malkin and Kyle Gooch (Litigation); Partner Tyler Nurnberg, Counsel Matthew Micheli and Associate Seth Kleinman (Bankruptcy & Restructuring); and Partner Rory Greiss and Associate Tess Fang (Corporate).