latest news on fleer redemptions

ducky_poo

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JUDGE APPROVES PLAN FOR FLEER REDEMPTIONS

A New Jersey Superior Court has approved a motion that will allow collectors still awaiting fulfillment of redemption cards from Fleer to receive one autographed card and two game-used cards for every one redemption card they’ve submitted.

Warren Martin, assignee for the benefit of creditors of Fleer, will now begin the process of providing the replacement cards for the estimated 50,000 unfulfilled Fleer redemption requests. In the original motion, Martin said this plan is “the fairest and most efficient way to serve two goals: provide redemption card holders with some type of ‘distribution’ for their cards while doing so in a manner that will not be detrimental to the Fleer/SkyBox estate and/or take substantial value away from other creditors.”

The cards being mailed to collectors are among more than 500,000 assorted autograph and memorabilia cards pulled from Fleer’s warehouses prior to the Sept. 9 auction of the company’s assets. Anyone who had previously submitted redemption cards to Fleer or to Martin’s office by Oct. 31 is eligible to receive cards in return.

the number of post cards you received last month will be the number of redemptions the law firm has on file. Unfortunately if you pull a redemption now you are stuck with it because those will not be redeemed.

They are selling the excess cards after they redeem the cards, so my guess is they pulled alot of the good stuff out to sell at auction
 
I just got this off a Beckett e-mail -

Fleer Redemption Card Program Approval Briefly Delayed
Dec 15 2005 8:51AM

A new twist has developed in the ongoing liquidation of Fleer's remaining assets, mainly the redemption card program. Here is the latest news from the Assignee of the Estates of Fleer/Skybox, Warren J. Martin Jr.:

"The redemption card motion, originally set for a December 9th hearing date, has been adjourned to January 13, 2005. There was a formal objection from Major League Baseball Properties and informal objections received from the National Basketball Association and the National Football League. No other parties objected prior to the objection deadline. The objection and the inquiries have been settled by stipulation and had no bearing on the adjournment.

As contemplated in the motion, a buyer has come forward to purchase the redemption card program and inventory from the Fleer Estate. In order to finalize the purchase and ensure the proper completion of the program, the motion was adjourned to January 13, 2005.

Please note that the buyer will be required to complete the redemption card program exactly as designed by the Assignee. Redemption cardholders should be unaffected by this change, with the exception of the program starting at a slightly later date.

The Assignee will be filing a supplement to the redemption card motion that provides additional detail prior to the January 13, 2005 hearing."

According to Mathew D. Laskowski, Senior Paralegal to Fleer Assignee Warren J. Martin Jr., the buyer is not a major card manufacturer.

New developments and documents in the case are routinely updated at the Fleer Assignee's website, www.fleerabc.com, or check back with Beckett as major news breaks
 
vladlevinsky said:
I had a redemption card in but didn't get a post card. Did anyone in Australia get a postcard?

Nope i didnt either :( and i sent 3 redemptions in before the deadline!!...better not scam me.
 
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