R.I.P. Tartan

[Big Magilla]

This from Variety's Asian blog reagrding Tartan's forelsoure sale of May 19th:

May 20 2008
Tartan USA closes
This came in Monday. The lawyers have spoken and Tartan USA has been closed.
NOTICE OF PUBLIC FORECLOSURE SALE On May 19, 2008, at 10:00 a.m. at Greenberg Glusker, LLP, 1900 Ave. of the Stars, Ste. 2100, Los Angeles, CA 90067, Palisades Media Asset Fund, LLC will conduct a public foreclosure sale of all assets of Tartan Films USA Inc. and Tartan Video USA, Inc., including their film library (101 titles) and all accounts, chattel paper, instruments, documents, general intangibles, inventory, goods (including equipment, furniture and fixtures), investment property, deposit accounts, bank accounts, deposits, cash, letter of credit rights, and all other property.Sale is subject to prior liens. For more information, please contact Palisades Pictures at 212-265-2323.

There are two possibilities here:
1) Tartan USA has gone out of business, plain and simple.
2) There are things afoot. I'm curious to know who bought the assets this morning, most importantly the 101 titles (not so interested in the fate of the furniture). Tartan has been having some trouble recently, and had postponed their 2008 titles first to May and then to some point in the future.

If you weren't keeping score, Tartan was the US distributor for OLDBOY, ELECTION, ELECTION 2 (aka TRIAD ELECTION), SYMPATHY FOR MR. VENGEANCE and



Edited By Big Magilla on 1211668394