I attended Deco’s latest bankruptcy proceeding today. The court has ruled, and Deco Lighting is now in the hands of creditor ABS, owned by Bob and Siamak Sinai, brothers of co-founder Sam Sinai.
The call today involved extensive discussions regarding the value of trademarks and intellectual property.
The judge’s rulings are usually formalized within 14 days; however, ABS’s lawyer requested an expedited order due to an ongoing contention with Premium Quality Lighting, which has tried to claim several of Deco’s trademarks.
Last month, I had a conversation with PQL’s Andy Sreden. He assured me he would follow his legal counsel’s guidance and only file claims to trademarks he is lawfully entitled to. He also mentioned his lack of interest in Deco Mesh since he is collaborating with other control manufacturers.
The litigation involving co-founder Ben Pouladian remains unresolved. The court has yet to decide whether to keep the case within the same bankruptcy jurisdiction or transfer it to another judge. This matter is scheduled for a hearing on 23 January.
Developing…