Looks like Air America Deadbeat owes more money then was originally thought. Via Michelle Malkin, comes a story from the NY Sun:
An attorney whose client is suing the Air America radio network said yesterday that the May litigation is part of a larger attempt by the client, an owner of radio stations, to collect more than $1.5 million it says it is owed.
The lawsuit filed by MultiCultural in May charges that the transfer of ownership of Air America to Piquant LLC from Progress Media in May 2004 was illegal and was intended only to maintain the network’s assets while abandoning its creditors.
"It’s called a fraudulent conveyance – same people, same assets, they are just trying to avoid their liabilities," Mr. Mastro said yesterday. "A company that has debts can’t just change its name, assume all the assets, and refuse to pay its liabilities. … The same individuals who contacted us and described themselves as Piquant were also part of the management and ownership of Air America."
And the New York Times had this to say:
Wow, that was deep, eh? Not one story since 8/13.
Update: Captain Ed has a link that is free for the NY Sun’s coverage.
Bit more: John in Carolina blasts the Raleigh News and Observers executive Editor, Melanie Sills. Check it out.
