An apparent ending to a string of court hearings between representatives from Jill Kelly Productions and those of the Kay brothers, Frank and Michael, and their New Jersey-based Pleasure Productions, has come to end with the Los Angeles court authorizing the auction of all of JKP’s titles.
The auction, set for April 17, will effectively liquidate the entire JKP catalog. The owner of the titles will then have the opportunity to keep the Jill Kelly name or not.
The decision is following a move by JKP to block the Kays from foreclosing on a lien purchased through their company XGenLLC, that would see them obtaining a considerable amount of JKP titles and assets. Sources told AVN.com that the Kaye brothers are the only secured creditors in the matter, and that JKP currently owes them $500,000.
As was previously reported by AVN.com, JKP filed for bankruptcy in August of 2005.
Neither Jill Kelly nor Frank Kay were available for comment on the decision. JKP CEO Philip Starr did not care to comment on the matter either, but sources from JKP confirmed the auction.
