Bankrupt Alliance of American Football league is defending its intellectual property assets’ valuation in liquidation, pushing back on creditors’ attempts to get more.
The defunct semi-pro league plans to ask a Texas court to approve the valuation next month, which is included in a proposed settlement with its largest secured creditor MGM Resorts International Operations Inc., according to the AAF Chapter 7 trustee’s July 25 court filing.
In the settlement, AAF’s intellectual property assets—including a mobile application to give bettors biomechanical data used for play-by-play wagering—will be sold to MGM for $125,000. MGM also would reduce its $7 million claim ...
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